BB asks all schedule banks to open agri credit cells

Bangladesh Bank has instructed all scheduled banks to open separate agriculture credit divisions or cells to give more attention to the sector. The central bank issued a circular to this effect Tuesday asking the scheduled banks to complete all formalities by July 7 to open the divisions and inform it of the progress. The circular says agriculture loan disbursement and realisation and other related activities need intensive monitoring and more supervision. That’s why a separate division or cell has to be constituted in the head office of each bank with necessary manpower. At least one officer must be assigned to every branch to carry out the agriculture loan-related activities, it adds. State-owned Sonali, Janata and Agrani banks already have separate agriculture loan divisions while Krishi Bank and Rajshahi Krishi Unnayan Bank are specialised in agriculture credit, according to a news agency.