Farm loan disbursement marks modest rise in July-January
Friday, 25 March 2011
Nazmul Ahsan
Farm credit disbursement during July-January period of the current fiscal year marked an 11 per cent growth to Tk 71.12 billion over that of the corresponding period in the last fiscal, according to the latest data of the Bangladesh Bank (BB). The performance of the state-owned banks -- commercial and specialised - was better than that of the private commercial banks (PCBs) and foreign commercial banks (FCBs). The BB has set a target of Tk 126.70 billion to be disbursed by all categories of banks as agricultural loan during the current (2010-2011) fiscal year. Of the target, public banks are to disburse Tk 89.86 billion and the PCBs and FCBs together Tk 36.31 billion. Of Tk 71.12 billion, eight government -owned banks and institutions disbursed Tk 54.52 billion and the remaining Tk 16.60 billion was disbursed by FCBs and PCBs during July-January period of the current fiscal year, the data elaborated. The state-owned banks and institutions are: Sonali, Janata, Agrani, Rupali, Bangladesh Krishi Bank, Rajshahi Krishi Unnayan Bank, Bangladesh Rural Development Board and Bangladesh Development Bank. Regular monitoring by the central bank and vigorous efforts on the part of the scheduled banks have helped the disbursement of farm credit to go up, said Bangladesh Bank officials. The total amount of farm credit disbursed during the corresponding period of previous fiscal year by all categories of banks (public, private and foreign) was Tk 64.02 billion, said BB. "The scenario of farm credit disbursement is encouraging thanks to relentless persuasion by the BB," a top official of the central bank told the FE. "We are hopeful that the disbursement of low-cost agricultural credit will cross the target at the close of the current fiscal year", he said. The interest rate for such credit is 8.0 per cent and 12 per cent for government-owned banks and private commercial banks respectively. According to the BB data on agricultural loan, Tk 27.37 billion was disbursed as crop loan, Tk 170.20 million against irrigation equipment, Tk 950 million against agriculture equipment, Tk 4.02 billion against livestock, Tk 4.15 billion for fisheries, Tk 1.17 billion for grain storage and marketing, Tk 13.20 billion for poverty alleviation and Tk 20.07 billion for other farm-related activities during the first seven months of the current fiscal year.
Farm credit disbursement during July-January period of the current fiscal year marked an 11 per cent growth to Tk 71.12 billion over that of the corresponding period in the last fiscal, according to the latest data of the Bangladesh Bank (BB). The performance of the state-owned banks -- commercial and specialised - was better than that of the private commercial banks (PCBs) and foreign commercial banks (FCBs). The BB has set a target of Tk 126.70 billion to be disbursed by all categories of banks as agricultural loan during the current (2010-2011) fiscal year. Of the target, public banks are to disburse Tk 89.86 billion and the PCBs and FCBs together Tk 36.31 billion. Of Tk 71.12 billion, eight government -owned banks and institutions disbursed Tk 54.52 billion and the remaining Tk 16.60 billion was disbursed by FCBs and PCBs during July-January period of the current fiscal year, the data elaborated. The state-owned banks and institutions are: Sonali, Janata, Agrani, Rupali, Bangladesh Krishi Bank, Rajshahi Krishi Unnayan Bank, Bangladesh Rural Development Board and Bangladesh Development Bank. Regular monitoring by the central bank and vigorous efforts on the part of the scheduled banks have helped the disbursement of farm credit to go up, said Bangladesh Bank officials. The total amount of farm credit disbursed during the corresponding period of previous fiscal year by all categories of banks (public, private and foreign) was Tk 64.02 billion, said BB. "The scenario of farm credit disbursement is encouraging thanks to relentless persuasion by the BB," a top official of the central bank told the FE. "We are hopeful that the disbursement of low-cost agricultural credit will cross the target at the close of the current fiscal year", he said. The interest rate for such credit is 8.0 per cent and 12 per cent for government-owned banks and private commercial banks respectively. According to the BB data on agricultural loan, Tk 27.37 billion was disbursed as crop loan, Tk 170.20 million against irrigation equipment, Tk 950 million against agriculture equipment, Tk 4.02 billion against livestock, Tk 4.15 billion for fisheries, Tk 1.17 billion for grain storage and marketing, Tk 13.20 billion for poverty alleviation and Tk 20.07 billion for other farm-related activities during the first seven months of the current fiscal year.