Dhaka, Bangladesh (BBN)– The central bank has slashed time limit for repayment of rice purchasing loan, received by rice millers and traders, to ensure smooth supply of the essential in local markets, officials said.
Under the new rules, the millers will have to repay their rice purchasing loans within 45 days instead of 60 days, while rice traders must repay their loans within 30 days instead of 45 days.
Bangladesh Bank (BB) issued a circular in this connection Monday, asking all commercial banks to re-fix the repayment period for rice purchasing credit, received by millers and traders.
“We’ve taken the latest move to ease prices of rice by increasing supply of the essential item in the local markets,” a BB senior official told BBN in Dhaka.
BBN/SI/AD-23Aug10-5:51 pm (BST)