Dhaka, Bangladesh (BBN)- The net sale of national savings certificates (NSD) and bonds jumped by nearly 184 per cent in the first nine month of the current fiscal year (FY) 2014-15 as clients continued to invest heavily in the risk free investment tools due to lower bank deposit rates.
The net investment in the savings instruments rose to BDT 210 billion in the July-March period of the FY 15 from BDT 74.61 billion in the same period of the previous fiscal, according to the Directorate of National Savings latest data, released on Monday.
“The government has already decided to slash the yields on the savings instruments to ease its debt servicing burdened,” a senior government official told BBN in Dhaka.
He also said that a high-powered committee is now working on the issue. “The net investment in national savings certificates and bonds would increase more in the coming months if the existing sluggish business condition continues.”