DHAKA NEWS
Dhaka, Mar 24 The central bank governor has warned of a tough action against the banks that will fail to reach farm loan disbursement targets.
"A target has been set for the banks to disburse agricultural loans and we hope that they'll be able fulfil the target. In case of failure, we will deduct money from their cash reserves and will distribute the amount among the farmers," central bank governor Atiur Rahman said on Saturday.
He was addressing a workshop titled 'Strategic Plan Development' organised by Microcredit Regulatory Authority at Savar Hope Centre.
According to law, the commercial banks have to keep 6 percent of their total deposit in cash with the central bank.
From the current fiscal (2011-2012), the country's central bank – Bangladesh Bank -- has asked all the private and foreign commercial banks to disburse at least 2.5 percent of their total loans as agriculture credit.
The latest statistics of the central bank shows that the disbursement of agricultural loans by the private banks has increased while the disbursement by the specialised and state-owned banks has decreased.
Bangladesh Bank had set a target for local and foreign banks of disbursing Tk 138 billion in agriculture loans for the current fiscal year.
The farm loan disbursement by the banks in July-February is Tk 76.88 billion.
Of this four state-owned commercial banks — Sonali, Rupali, Agrani and Janata and the two specialised state-owned banks -- Bangladesh Krishi Bank and Rajshahi Krishi Unnayan Bank — disbursed Tk 51.83 billion.
On the other hand, 30 foreign and private banks disbursed Tk 25.05 billion.
"A target has been set for the banks to disburse agricultural loans and we hope that they'll be able fulfil the target. In case of failure, we will deduct money from their cash reserves and will distribute the amount among the farmers," central bank governor Atiur Rahman said on Saturday.
He was addressing a workshop titled 'Strategic Plan Development' organised by Microcredit Regulatory Authority at Savar Hope Centre.
According to law, the commercial banks have to keep 6 percent of their total deposit in cash with the central bank.
From the current fiscal (2011-2012), the country's central bank – Bangladesh Bank -- has asked all the private and foreign commercial banks to disburse at least 2.5 percent of their total loans as agriculture credit.
The latest statistics of the central bank shows that the disbursement of agricultural loans by the private banks has increased while the disbursement by the specialised and state-owned banks has decreased.
Bangladesh Bank had set a target for local and foreign banks of disbursing Tk 138 billion in agriculture loans for the current fiscal year.
The farm loan disbursement by the banks in July-February is Tk 76.88 billion.
Of this four state-owned commercial banks — Sonali, Rupali, Agrani and Janata and the two specialised state-owned banks -- Bangladesh Krishi Bank and Rajshahi Krishi Unnayan Bank — disbursed Tk 51.83 billion.
On the other hand, 30 foreign and private banks disbursed Tk 25.05 billion.
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