Deposits in accounts held by the extreme poor dipped in the January-March quarter, falling to Tk 277 crore, even as the total volume of these accounts continues to swell.
According to the latest report from the Bangladesh Bank, deposits in extreme poor accounts came down to the current level from Tk 277.78 crore in December and Tk 231 crore in March 2025.
The total deposit across all no-frill accounts or NFAs reached Tk 8,317 crore by the end of March 2026, spread across 3,56,30,235 accounts.
These accounts — designed for farmers, RMG workers and the extreme poor — require no minimum balance and charge no service fees, serving as a critical gateway for the financially excluded.
For the core Tk 10/50/100 accounts, total deposits grew by 5.68 per cent over the previous quarter to Tk 5,407 crore.
Savings for Farmers and Social Safety Net (SSN) beneficiaries — who together hold over 72 per cent of these accounts — saw increases, with farmer deposits rising by 7.28 per cent.
In contrast, the extreme poor and freedom fighters both saw marginal declines in their deposit balances this quarter, indicating that while they are entering the banking system, they are struggling to keep their money there.
A significant bright spot in the data is student banking, which witnessed a massive 27.21 per cent increase in account numbers and a 35.73 per cent surge in deposits.
This surge is attributed to the ‘Student Banking Guideline’ issued in February 2026, which expanded the age limit to 25 years.
Yet, the progress is tainted by a widening gender gap; male student-owned accounts and deposits grew significantly faster than those held by female students during this period.
Up to the March 2026 quarter, the government has disbursed subsidy/salary to 71,84,061 NFAs held with various segments of marginal people of the society.
NFAs also remain vital for foreign remittances, with cumulative inflows reaching Tk 845 crore — a 2.21 per cent rise over the previous quarter.
Additionally, 18 banks have now opened 40,671 accounts for street urchins and working children, though their total deposits remain a modest Tk 34.6 lakh.
To meet the national goal of banking for all adults by 2026, the Bangladesh Bank has recommended that branches set specific targets for opening NFAs.
Crucially, they have called for the strict implementation of a 25 per cent refinance loan target for women to bridge the persistent gender gap in access to finance.
Without these targeted interventions, the persistent stagnation at the bottom may continue to haunt the central bank’s inclusion dreams.
