BB mounts multi-layer watch on farm loans
Friday, October 16, 2009 The central bank has put in place a three-tier monitoring system to ensure a proper distribution of Tk 12,000 crore in farm loans across the county. "Apart from BB's monitoring, the respective banks will also monitor their own distribution," said Bangladesh Bank Governor Atiur Rahman at a discussion meeting with reporters at the central bank's Rajshahi office yesterday. "We are also training 80 new officials. With the completion of their training, the officials will spread across the country and monitor the distribution for 15 days," Rahman said. BB has asked all banks to record the mobile numbers of farmers who will be given loans so that the monitoring staff can contact them easily about loan distribution. Rahman said the latest policy has set the target for agricultural loans 25 percent higher at Tk 12,000 crore. "It's a big jump and it includes Tk 500 crore for distribution among sharecroppers. So, we are