Banks directed to expedite credit for productive sectors
Thursday, 22 July 2010
FE Report
The central bank has asked the commercial banks to expedite credit flow to productive sectors including agriculture and small and medium enterprises in line with the newly announced monetary policy.
The advice came at a bankers' meeting held in the central bank Wednesday with Bangladesh Bank Governor Atiur Rahman in the chair.
On Monday, the BB unveiled its first half-yearly monetary policy for the current fiscal year to achieve inclusive economic growth through strengthening financial inclusion while keeping inflationary pressure under control.
"We'll promote productive sectors which will help financial inclusion," the central bank chief said while replying to a query after the meeting, adding that the central bank would take a hard line if necessary to discourage lending for consumption and unproductive speculative investments.
Agriculture credit policy as well as programme for the fiscal 2010-11 was presented at the meeting to inform the bankers about the new policy.
The central bank chief expected that the bankers would take necessary measures to ensure credit flow in line with the existing monetary policy.
During the meeting, the bankers have been advised to move forward for investments in different productive sectors including solar irrigation, renewable energy and indigenous fish, a BB official said.
The central bank has asked the commercial banks to expedite credit flow to productive sectors including agriculture and small and medium enterprises in line with the newly announced monetary policy.
The advice came at a bankers' meeting held in the central bank Wednesday with Bangladesh Bank Governor Atiur Rahman in the chair.
On Monday, the BB unveiled its first half-yearly monetary policy for the current fiscal year to achieve inclusive economic growth through strengthening financial inclusion while keeping inflationary pressure under control.
"We'll promote productive sectors which will help financial inclusion," the central bank chief said while replying to a query after the meeting, adding that the central bank would take a hard line if necessary to discourage lending for consumption and unproductive speculative investments.
Agriculture credit policy as well as programme for the fiscal 2010-11 was presented at the meeting to inform the bankers about the new policy.
The central bank chief expected that the bankers would take necessary measures to ensure credit flow in line with the existing monetary policy.
During the meeting, the bankers have been advised to move forward for investments in different productive sectors including solar irrigation, renewable energy and indigenous fish, a BB official said.