Economic Reporter :
The central Bank has set a target of Tk175.5 billion for all the scheduled banks operating in the country to disburse as farm loan.
Bangladesh Bank (BB) announced the agricultural loan policy for the fiscal year 2016-17, targeting the disbursement.
BB Governor Fazle Kabir disclosed the policy recently at the Jahangir Alam Conference Hall on the central bank premises. Deputy Governors Abu Hena Mohd. Razee Hasan and SK Sur Chowdhury were also present.
According to the new farm loan policy, the Credit Information Bureau (CIB) reports or inquiries will not be required for a farmer to take a loan below Tk2.5 lakh.
The loans can be given through agent banking and the agent banks will take 0.50 service charge including value added tax. Mango, litchi and guava cultivators can borrow from commercial banks.
Fazle Kabir said the target for total agricultural loan in the current fiscal year has been set at Tk17,550 crore which is 7 percent higher than that of the previous year. The target for the last fiscal year was Tk16,400 crore.
Last year the banks disbursed Tk17,646.39 crore across the country that was higher than the target.
Governor said this year the private banks will be given a mandatory condition that they will have to disburse 30 percent of loans through their branches and agents.
The central Bank has set a target of Tk175.5 billion for all the scheduled banks operating in the country to disburse as farm loan.
Bangladesh Bank (BB) announced the agricultural loan policy for the fiscal year 2016-17, targeting the disbursement.
BB Governor Fazle Kabir disclosed the policy recently at the Jahangir Alam Conference Hall on the central bank premises. Deputy Governors Abu Hena Mohd. Razee Hasan and SK Sur Chowdhury were also present.
According to the new farm loan policy, the Credit Information Bureau (CIB) reports or inquiries will not be required for a farmer to take a loan below Tk2.5 lakh.
The loans can be given through agent banking and the agent banks will take 0.50 service charge including value added tax. Mango, litchi and guava cultivators can borrow from commercial banks.
Fazle Kabir said the target for total agricultural loan in the current fiscal year has been set at Tk17,550 crore which is 7 percent higher than that of the previous year. The target for the last fiscal year was Tk16,400 crore.
Last year the banks disbursed Tk17,646.39 crore across the country that was higher than the target.
Governor said this year the private banks will be given a mandatory condition that they will have to disburse 30 percent of loans through their branches and agents.
