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UCO Bank, formerly United Commercial Bank, is an Indian public sector bank, and financial services government owned body headquartered in Kolkata. [3] It is a medium sized public sector bank in India and ranked 1948 in Forbes Global 2000 list of year 2018 & ranked 80 on the Fortune India 500 list in 2020. [ 4 ]
National Savings Certificate in Bangladesh encompasses different types of savings schemes operated by National Savings Department, Bangladesh. It is supervised by Internal Resources Division of Ministry of Finance of Government of Bangladesh. Every year the profit margins of these schemes are declared after cutting the 5% source tax.
The debate of choosing between fixed and floating exchange rate methods is formalized by the Mundell–Fleming model, which argues that an economy (or the government) cannot simultaneously maintain a fixed exchange rate, free capital movement, and an independent monetary policy. It must choose any two for control and leave the other to market ...
A managed float regime, also known as a dirty float, is a type of exchange rate regime where a currency's value is allowed to fluctuate in response to foreign-exchange market mechanisms (i.e., supply and demand), but the central bank or monetary authority of the country intervenes occasionally to stabilize or steer the currency's value in a particular direction.
The bank was incorporated on 26 June 1983. The government owns shares in the bank. The bank was listed in the Dhaka Stock Exchange (DSE) by 1986 and Chittagong Stock Exchange (CSE) by 1995. [11] [14] On 8 April 1993, Humayun Zahir, the first chairman of the United Commercial Bank was murdered following a dispute with other bank directors. [15]
This sector is mainly represented by Specialized Financial Institutions like House Building Finance Corporation (HBFC), Palli Karma Sahayak Foundation (PKSF), Samabay Bank, Grameen Bank etc., Non-governmental organizations (NGOs) and discrete government programs. The informal sector includes private intermediaries which are completely unregulated.
Head of government From To Period Minister of Local Government, Rural Development and Co-operatives 1 Abdus Salam Talukder (1936–1999) MP for Jamalpur-4: 20 March 1991 30 March 1996 5 years, 10 days: Bangladesh Nationalist Party: Khaleda I: Khaleda Zia: C1 Syed Ishtiaq Ahmed (1932–2003) Adviser: 31 March 1996 23 June 1996 84 days ...
The newly independent government immediately designated the Dhaka branch of the State Bank of Pakistan as the central bank and renamed it the Bangladesh Bank. [9] The bank was responsible for regulating currency, controlling credit and monetary policy, and administering exchange control and the official foreign exchange reserves . [ 9 ]