Babu Bazaar is the most famous wholesale rice market of Dhaka City. The new extension of Babu Bazaar known as Naya Bazaar (New Bazaar) is situated in old Dhaka on the bank of the Buriganga River. This is the main source for rice in Dhaka City. There are no retail shops in the bazaar; only wholesale buyers can buy rice. There are more than 300 rice shops.

In the Babu Bazaar there are various kinds of rice available; for example, katari vog, najirsile, pigom, minicat, iiri, atab, cinegura, berai, atts, lata, and sharna.

This market is also famous for medicine, paper and perfume. In the medicine market there are about 100 shops and in the perfume market there are about 120 shops. In the paper market they produce various kinds of paper in different sizes and colors.

In the Babu Bazaar there is also a big fruit cold-storage facility. Different kinds of seasonal fruits are stored here for a long time. There is also a shrine of Hazrat Baba Bahar Shah in the bazaar. Many people regularly come here to pray to fulfill their desire to be free of disease.

This market starts everyday at 6:00 am and closes at 5:00 pm. Friday is the weekly holiday of Babu Bazaar.