Students and their guardians have been facing trouble in receiving the money in the last few yearsThe government will distribute stipends and accessory allowances among 13 crore primary school students through Nagad, Bangladesh Post Office's digital financial service. They will also benefit from the reduction of the government-set cash out charge - from Tk 20 for withdrawing per Tk 1,000, to Tk 7.50. This reduced charge will only be applicable for cashing out primary stipends. Under the agreement, Nagad will ensure the distribution of the stipends immediately after it receives the list of beneficiary students from the authorities, said a press release. The initiative will bring down the government expenditure on disbursing the funds by a third, the release also said.

Source: Dhaka Tribune December 13, 2020 12:00 UTC