Otherwise, the central bank will consider adversely when they would apply for new branch or dealership licences.

The BB has asked the banks to post notices announcing that dirty and torn notes can be changed in their branches. They have also been directed to open separate counters for this purpose.

BB Governor Dr Fakhruddin Ahmed at a meeting with the chief executives of all banks highlighted the plight of clients possessing damaged notes.

He also reminded them that it is the duty of the banks to replace such notes with good ones.

The meeting over, Deputy Governor Nazrul Huda told journalists that the central bank has sought help of the commercial banks to completely drive damaged money out of circulation by next year.

But bankers presented a different picture in the meeting when they said the BB officials do not cooperate with them when they want to change old and torn notes.

The governor then assured them of looking into the matter and monitoring the situation.

Sources said the BB will print 800 million pieces of new notes of different denominations within the next three months. These will then replace the old and torn notes.

Plans are also underway to introduce coins of two taka denominations soon. Later, Tk 10 coins may also be considered.