Bangladesh, Aug. 28 -- The central bank of Bangladesh is mobilising BDT 410 billion from 17 cash-rich banks to support a BDT 600-billion stimulus package aimed at reviving private-sector investment and economic activity.

The central bank will take the funds as placements, generally known as deposits, for at least three years at the 9.50% policy rate, while providing the remaining BDT 190 billion from its own resources.

In banking, 'placement' generally means placing surplus funds with another bank or financial institution for a specified period and at an agreed interest rate.

The 17 banks are Sonali, BRAC, City, Pubali, Dutch-Bangla, Eastern, Bank Asia, Agrani, Rupali, Mutual Trust, Uttara, Prime, National Credit and Commerce, Mercant...