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 keen to ensure proper distribution."

The central bank chief observed that it is not possible to drive economic growth without boosting agriculture.

"If agro-based industries and SMEs (small and medium enterprises) flourish, Rajshahi region will a big driving force for the economy," Rahman said.

"Lack of gas and power is hindering the growth of industries in Rajshahi, but the region has fertile lands where lies the potential for agro-based industries."

"If the banks agree to provide loans to silk-based SMEs, the central bank will provide funds at a 5 percent interest rate," Rahman said.

"Based on the agriculture and remittance, we are now proud of a reserve of over $9 billion, and the reserve is likely to reach $10 billion at any time now."

He described the role of banks and said Bangladesh like four other countries are surviving recession because of the stability of banks.

Sardar M Shahjahan, BB Rajshahi branch general manager, and DGM AFM Asaduzzaman were among others who were present with the governor.

http://www.thedailystar.net/newDesign/news-details.php?nid=109888

Comments

Post a Comment

Popular posts from this blog

Smugglers-BDR Affair on Barendra Express

-
Monday, December 7, 2009 Passengers halted an intercity train for three hours at Panchbibi station in Joypurhat yesterday protesting carrying of smuggled goods in trains and alleged harassment by border troops in the name of raids. Hundreds of passengers got down from Barendra Express that runs between Nilphamari and Rajshahi when it arrived at Panchbibi station at around 10:00am and staged demonstration for three hours until 1:00pm. They sat on the rail track just in front of the locomotive of the express train and held a rally, said sources in the headquarters of Bangladesh Railway's west zone in Rajshahi. The agitators said the smugglers were carrying Indian fertiliser at different compartments of Barendra Express since it started from Nilphamari. Half an hour before the train reached Panchbibi, some members of Bangladesh Rifles challenged the smugglers, they said. At this stage, the smugglers spread the fertiliser inside the compartments by cutting sacks and t
Read more

Hijbut holds meeting under police protection

-
Image
Published On: 2008-11-16 Hizbut Tahrir leader Muniruzzaman Masud addressing a discussion at Rajshahi Chamber of Commerce and Industries auditorium yesterday. Photo: STAR H izbut Tahrir leaders who were released after arrest earlier as militant-suspects held a discussion amid police protection in the city yesterday.They threatened to launch a movement against the government branding them as brokers of capitalist powers.Hijbut joint coordinator Kazi Morshedul Haque, senior member Ahmed Zamal Iqbal, members Moniruzzaman Masud and Masud Kausar addressed the meeting, among others.Some 10 Hijbut men including Iqbal, Moniruzzaman and Kausar were arrested on September 18 but released two weeks later as police said they did not find anything to sue them.Police were deployed at Rajshahi Chambers of Commerce and Industries auditorium where the discussion was held.Around 50 Hijbut members and their supporters took part in the discussion.The speakers said launching movement against the 'presen
Read more