Cabinet okays draft Rajshahi Krishi Unnayan Bank Act

The cabinet approved on Monday the draft 'Rajshahi Krishi Unnayan Bank Act, 2014' aiming to expand the activities of the bank for the benefit of the people.
 "The draft bill proposes a little bit of change for updating the existing law and broadening the definition of agriculture and small farmers," cabinet secretary Mohammad Musharraf Hossain Bhuiyan told the media after regular weekly cabinet meeting at the conference room of the cabinet division on the day.
Prime Minister Sheikh Hasina presided over the meeting at the cabinet division of Bangladesh Secretariat.
The cabinet secretary said as per the new definition, processing of fish and livestock products will be considered as agricultural activities. Fishermen and livestock and poultry breeders will be treated as small farmers. The bank will bring more people under its services
He said the existing law has been updated following consultations with the stakeholders concerned. The draft law proposed increase in the number of directors of the bank to 11 from 7. It also proposed to create a post of Deputy Managing Director (DMD) as the activities of the bank have been expanded.
He said the bank could open new branches and introduce agent banking and mobile and online services.   
 "The services of the bank could be expanded further by opening new branches and introducing agent banking and mobile and online services," Mr Bhuiyan mentioned.
He said the proposed act is not a new law rather it is an updated Bengali version of an ordinance titled 'Rajshahi Krishi Unnayan Bank Ordinance 1986 that was promulgated during the military government.
The newly established Rangpur division will come under the areas to be covered by the bank. The cabinet also gave final approval to the Khulna Agriculture University Act, 2014 for establishing a new agricultural university in Khulna for the expansion of agricultural education in the country.
The cabinet secretary said that Prime Minister Sheikh Hasina during her visit in Khulna on March 5, 201 has committed to establishing the university.
He also said the cabinet approved in principle the draft of the law in October, 2011 with some observations. He said that the ministry of education has already undertaken necessary preparations to set up the university in Khulna.
The cabinet was apprised of the visit of a Bangladesh delegation led by the state minister for power, energy and mineral resources to Japan on April 20-26, 2014.