Farm credit flow up by 18.13pc in nine months
Wednesday, 28 April 2010
FE Report
Farm credit disbursement recorded an 18.13 per cent growth during the first nine months of this fiscal, as the central bank has continuously been persuading the banks to increase lending to farmers.
Eight state-owned banks and financial institutions (FIs) along with local and foreign private commercial banks disbursed Tk 81.595 billion (8,159.5 crore) as agri-loans during July-March of the fiscal 2009-10 (FY10) against Tk 69.070 billion disbursed during the corresponding period of the previous fiscal, according to the central bank statistics.
During the period, the eight state-owned banks and FIs disbursed Tk 61.579 billion compared to Tk 52.712 billion of the corresponding period of the previous fiscal, while the private commercial banks and foreign commercial banks lent Tk 20.016 billion to farmers as against Tk 16.357 billion of the previous fiscal.
The banks and FIs achieved 70.88 per cent of their annual target, which has been fixed at Tk 115.12 billion, during the period under review, compared to 73.64 per cent in the corresponding period of the last fiscal.
"We've asked the banks and FIs to take effective measures to achieve the agro-credit disbursement target by the end of this fiscal," a senior official of the Bangladesh Bank (BB) told the FE Monday.
He also said the BB has expedited efforts through strengthening and supervision of farm credit disbursements across the country using mobile phones.
On the other hand, the recovery of farm loans rose to Tk 74.238 billion during the period under review from Tk 60.509 billion of the corresponding period of the previous fiscal.
The state-run banks and FIs are: Sonali Bank Limited, Janata Bank Limited, Agrani Bank Limited, Rupali Bank Limited, Bangladesh Krishi Bank (BKB), Rajshahi Krishi Unnayan Bank (RAKUB), Bangladesh Rural Development Board (BRDB) and Bangladesh Samobaya Bank Limited (BSBL).
The loans have been given to eight agro-based sub-sectors like crops, irrigation equipment, livestock, agricultural products marketing, fisheries and poverty alleviation.
Farm credit disbursement recorded an 18.13 per cent growth during the first nine months of this fiscal, as the central bank has continuously been persuading the banks to increase lending to farmers.
Eight state-owned banks and financial institutions (FIs) along with local and foreign private commercial banks disbursed Tk 81.595 billion (8,159.5 crore) as agri-loans during July-March of the fiscal 2009-10 (FY10) against Tk 69.070 billion disbursed during the corresponding period of the previous fiscal, according to the central bank statistics.
During the period, the eight state-owned banks and FIs disbursed Tk 61.579 billion compared to Tk 52.712 billion of the corresponding period of the previous fiscal, while the private commercial banks and foreign commercial banks lent Tk 20.016 billion to farmers as against Tk 16.357 billion of the previous fiscal.
The banks and FIs achieved 70.88 per cent of their annual target, which has been fixed at Tk 115.12 billion, during the period under review, compared to 73.64 per cent in the corresponding period of the last fiscal.
"We've asked the banks and FIs to take effective measures to achieve the agro-credit disbursement target by the end of this fiscal," a senior official of the Bangladesh Bank (BB) told the FE Monday.
He also said the BB has expedited efforts through strengthening and supervision of farm credit disbursements across the country using mobile phones.
On the other hand, the recovery of farm loans rose to Tk 74.238 billion during the period under review from Tk 60.509 billion of the corresponding period of the previous fiscal.
The state-run banks and FIs are: Sonali Bank Limited, Janata Bank Limited, Agrani Bank Limited, Rupali Bank Limited, Bangladesh Krishi Bank (BKB), Rajshahi Krishi Unnayan Bank (RAKUB), Bangladesh Rural Development Board (BRDB) and Bangladesh Samobaya Bank Limited (BSBL).
The loans have been given to eight agro-based sub-sectors like crops, irrigation equipment, livestock, agricultural products marketing, fisheries and poverty alleviation.