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The money and mind both matter for healthy living and the recent COVID-19 has impacted both our economic sector and mental health. Millions of people slipped below the poverty line due to the recent crisis and the mental health problems also rising exponentially. The risk of mental illness is higher among people living in poverty and people who live with mental illness drift into poverty due to their disorders. Moreover, the wide spread stigma is deep-rooted in the low socioeconomic condition and people living in the remote areas in Bangladesh even in the capital city people who are living in the slum have very limited access to mental health care. Due to lack of early identification and appreciate treatment a large segment of people in Bangladesh leads an unproductive life and becomes burden to family and society. As the price of mobile phone sets reduced and the cost for mobile calls and internet reduced it open the opportunity to increase awareness about mental health, promote early identification and provide evidence-based quality care by implementing telepsychiatry services. If we can ensure early identification and appropriate intervention it will reduce the burden of mental health burden also bring productive life to many people that will ultimately help in growth in national GDP. However, mental health is hardly considered in the poverty reduction programs in Bangladesh. In this paper, we discussed the relation of poverty and mental health in Bangladesh and how telepsychiatry can help in reducing the poverty of the country.