Kazi Zahidul Hasan :
The Ministry of Finance has asked the Palli Sanchay Bank to recover Tk 1,500 crore from Bank Asia, United Commercial Bank (UCB) and Bangladesh Commerce Bank.
The fund was mobilized as savings from about 25 lakh beneficiaries of the ‘One House One Farm’ project and deposited in the banks from July 2009 to November last year, according to an official figure.
Bank and Financial Institutions Division (BFID) under the Finance Ministry in a recent letter to managing director of Palli Sanchay Bank reminded the bank to recover the fund immediately asking for progress in this regard.
The division earlier reminded the bank several times to recover the full amount to boost its lending activities.
“We have already convened meetings with the banks’ representatives. I also attended the meetings where they assured us of returning the fund. But they are yet to do so. It is crippling the activities of the Palli Sanchay Bank. So, we reminded the bank to recover the amount immediately,” Md Yunusur Rahman, Senior Secretary of the BFID, told The New Nation yesterday.
“As per my knowledge, the banks were busy for closing their books of accounts in December.
This may be a cause for their delay. Hopefully, they will soon return the deposit to the Palli Sanchay Bank,” he said.
“We will hold a fresh meeting with three banks soon to get back the money,” Managing Director of Palli Sanchay Bank Akbar Hossain told The New Nation on Friday.
Till Thursday, these banks have returned Tk 215 crore only out of the total figure. We are going to sit again with the banks for getting back the remaining money as soon as possible.
“We have already asked them to refund the whole amount. They assured us of refunding the money as soon as possible,” said Akbar Hossain.
“The issue is expected to settle in the next meeting. We’re working sincerely to recover the fund,” he added.
Akbar Hossain further said, the fund is necessary to provide loans to the beneficiaries under the ‘One House One Farm’ project across the country. The poverty alleviation programme funded under the project is facing setback due to delay in getting back the fund.
Sources said, Palli Sanchay Bank is getting only two percent interest against its deposit maintain with the private banks whereas it is getting a higher interest (5 percent) from their Tk 98.50 crore deposit kept in four other private and public banks.
The Ministry of Finance has asked the Palli Sanchay Bank to recover Tk 1,500 crore from Bank Asia, United Commercial Bank (UCB) and Bangladesh Commerce Bank.
The fund was mobilized as savings from about 25 lakh beneficiaries of the ‘One House One Farm’ project and deposited in the banks from July 2009 to November last year, according to an official figure.
Bank and Financial Institutions Division (BFID) under the Finance Ministry in a recent letter to managing director of Palli Sanchay Bank reminded the bank to recover the fund immediately asking for progress in this regard.
The division earlier reminded the bank several times to recover the full amount to boost its lending activities.
“We have already convened meetings with the banks’ representatives. I also attended the meetings where they assured us of returning the fund. But they are yet to do so. It is crippling the activities of the Palli Sanchay Bank. So, we reminded the bank to recover the amount immediately,” Md Yunusur Rahman, Senior Secretary of the BFID, told The New Nation yesterday.
“As per my knowledge, the banks were busy for closing their books of accounts in December.
This may be a cause for their delay. Hopefully, they will soon return the deposit to the Palli Sanchay Bank,” he said.
“We will hold a fresh meeting with three banks soon to get back the money,” Managing Director of Palli Sanchay Bank Akbar Hossain told The New Nation on Friday.
Till Thursday, these banks have returned Tk 215 crore only out of the total figure. We are going to sit again with the banks for getting back the remaining money as soon as possible.
“We have already asked them to refund the whole amount. They assured us of refunding the money as soon as possible,” said Akbar Hossain.
“The issue is expected to settle in the next meeting. We’re working sincerely to recover the fund,” he added.
Akbar Hossain further said, the fund is necessary to provide loans to the beneficiaries under the ‘One House One Farm’ project across the country. The poverty alleviation programme funded under the project is facing setback due to delay in getting back the fund.
Sources said, Palli Sanchay Bank is getting only two percent interest against its deposit maintain with the private banks whereas it is getting a higher interest (5 percent) from their Tk 98.50 crore deposit kept in four other private and public banks.
