Please
refer to BSD Circular No. 19 dated March 31, 2001 on the captioned
subject.
It
has been decided with immediate effect to withdraw para ‘b’*
of the referred Circular, whereby banks / NBFIs were prohibited
from offering rate of return on such deposits exceeding the
LIBOR.
In
the light of the above amendment, the banks / NBFIs will,
henceforth, be free to decide the rate of return on deposits
mobilized under FE 25.
Other
instructions on the subject will, however, remain unchanged.
Please
acknowledge receipt.
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