The former governor of Bangladesh Bank commented that if a weak bank is forcibly merged with another bank, that bank will not become strong. Mohammad Farasuddin.
He said, the issue of integration is not new. It is in different countries. However, a bad bank cannot be made good by forcefully merging one bank with another. May be a merger or takeover. But nothing should be forced.
He said these things at the ‘Conversation with ERF’ program organized by the Economic Reporters Forum of the capital on Thursday (May 2).
The event organized under the direction of ERF Secretary Abul Kashem was presided over by the president of the organization Refayet Ullah Mirdha. Prothom Alo Head of Online Shaukat Hossain, ERF leaders and media workers were present.
Dr. Farasuddin said, bank merger is nothing new. But it should not be forced or forced. The two banks to be merged must obtain their own consent. This is the way it is all over the world. It has also happened in Bangladesh in the past. It should be integrated by discussing among ourselves rather than forcing it.
The former governor said, our inflation has been close to 10 for almost ten months. Ministers say people are doing well despite inflation at 9.7 percent. Reality is a thing of the past. The salary of the employees may have increased a bit. That means they are not good at this inflation.
He said that inflation has been brought under control in all countries of the world. But we couldn’t. We need to change our monitoring system to control inflation. Instead of monitoring on TV, direct supervision should be increased. Otherwise inflation cannot be reduced.
Dr. on loan default. Farasuddin said, I will jail a farmer for a loan of 500 or 1,000 rupees and the person who disappears after taking a loan of 10,000 crore rupees will be saluted and seated next to him – this cannot happen. The defaulters are invited to sit on the deck and have tea, which cannot last long.
He said, it should be remembered that loan defaulters, tax defaulters and smugglers are all tied to the same formula. Deposits need to come to the bank right now. Deposit insurance rate should be Rs.1 crore. All obstacles to deposit should be removed. Only then the house money will return to the bank.
He also said that now Boro harvest has started. Farmers will survive if the government collects 20 lakh metric tonnes of food on top priority in the next 15 days. It should also be seen that the unscrupulous cannot take the farmer’s crops at a low price. If you can do this, the farmer will get the real price of the crop. Later it can be opened by the government in the moment of crisis.
Regarding discrimination, the former governor said that as the capitalist economy grows, people’s kindness decreases. Now that is happening. And this is why inequality has increased. But there are some differences. Because the poor of 30 years ago and the poor of today are not the same thing, there is a difference between them. This is why we need to reduce inequality first.
EAR/MKR/GKS
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