Dhaka, Bangladesh (BBN)– Agriculture credit disbursement grew by 7.65 per cent in the first quarter of the current fiscal year (FY) 2016-17 mainly due to continuous persuasion of the bankers by the central bank.
Disbursements rose to BDT 34.44 billion in the July-September period of the FY 17 from BDT 31.99 billion in same period of the previous fiscal, according to the central bank latest statistics.
Of the quarterly disbursement, eight state-owned banks disbursed BDT 12.90 billion and the remaining BDT 21.54 billion was disbursed by the private commercial banks (PCBs) and foreign commercial banks (FCBs).
The recovery of farm loans also rose to BDT 35.42 billion during the period under the review from BDT 31.18 billion in the same period of the previous fiscal.
“The central bank has already strengthened our monitoring and supervision to ensure credit facilities for each interested farmers across the country without any harassment,” a senior official of the Bangladesh Bank (BB) told BBN in Dhaka.
He also said the BB has already asked all banks for taking effective measures to achieve the farm credit disbursement target by the end of this fiscal.
All the scheduled banks together disbursed 19.62 per cent of the annual target of BDT 175.50 billion for the FY 17.