From page b1

They might head back to savings instruments, which carry 11.04-11.76 percent interest.

Because of their high interest-bearing nature, their sales hit a staggering Tk 49,939 crore last fiscal year.

To reduce the appetite for the savings tools, the government from this fiscal year has lowered the ceiling. And to ensure the ceiling is not breached, the government digitised the system.

This led to a spike in bank deposits, said a Bangladesh Bank official.

He fears that people will now invest their money in land and capital market and avoid banks entirely. A section of them will even try launder money abroad.

But pensioners like Kabir, who are not as investment-savvy and are shut out from those options, are at wits’ end.

“I really don’t know what to do.”