BB asks banks to cut power, fuel use

Bangladesh Bank (BB) has asked banks to cut the use of electricity and fuel till next June.

Banks have to reduce the consumption of gas and lubricant by 20 percent and electricity by 25 percent in the next one year starting from July this year, said a BB circular issued on Tuesday.

The money saved from this austerity move won't be used in any other sector, the notification added.

Also, banks have to preserve the documents and information regarding reduced usage in their respective head offices.

Once, the team from the Bangladesh Bank goes for inspection, banks have to show the data.

In addition, the data will have to be included in the annual fiscal report spanning from December 2022-December 2023.