Bangladesh, Aug. 28 -- Cash-rich 17 banks are set to deposit Tk 410 billion into a Tk 600-billion government stimulus package for supporting the struggling private sector, boosting investment and revitalising sagging economic activity across Bangladesh.

Advertisement The central bank has signed deals with the banks to mobilise funds for the package that offers the lenders-turned depositors interest at the policy rate.

Under the latest moves, the Bangladesh Bank (BB) has already signed agreements with the 17 commercial banks in two phases, officials said.

In the second phases, the central bank signed agreements with 10 scheduled banks on Thursday to collect Tk 125 billion as 'placement' from the lenders.

In banking, 'placement' genera...