Dhaka, Bangladesh (BBN) – Farm credit disbursement increased by 11.29 per cent in the first two months of this fiscal, as the central bank has expedited its efforts to ensure such facilities for each interested farmers across the country.
Disbursement of agriculture loan rose to BDT 17.24 billion during the July-August period of the current fiscal year (FY) 2014-15 from BDT 15.49 billion in the corresponding period of the previous fiscal, according to the central bank statistics.
Of BDT 17.24, six state-owned banks disbursed BDT 7.82 billion, and the remaining BDT 9.43 billion was disbursed by the private commercial banks and foreign commercial banks.
All scheduled banks have achieved more than 11.00 per cent of their annual agricultural loan disbursement target for FY 15, fixed at BDT 155.50 billion.
“The central bank has expedited our efforts through strengthening monitoring and supervision aiming to achieve farm credit disbursement target by the end of the FY 15,” a senior official of the Bangladesh Bank (BB) told BBN in Dhaka.
As part of the moves, the central bank has already sought mobile numbers of fresh agriculture loan borrowers from the banks concerned to gear up the monitoring and supervision on farm credit disbursements, according to the central banker.
The central bank earlier started monitoring the farm credit disbursement programme directly by talking to farmers and bank officials to facilitate agriculture activities.
The recovery of farm loan increased by nearly 5.0 per cent during the period under review as the banks have expedited their recovery drives across the country, the central banker added.
The recovery of farm loans rose to BDT 18.87 billion in the first two months of FY 15, from BDT 18.01 billion in the corresponding period of the previous fiscal, the BB data showed.
BBN/SSR/AD-25SEpt14-10:28 am (BST)
