Banks asked to give more credit to farm sub-sectors

Posted by BankInfo on Thu, Apr 26 2012 09:02 am

Bangladesh Bank has advised the scheduled banks to distribute more credit to the three vital farm sub-sectors fisheries, fruit and livestock.

The advice was given at a meeting of the high officials of the central bank with private commercial and foreign banks at the BB conference room on Wednesday.

Executive Director of Bangladesh Bank SM Monirujjaman presided over the meeting while Additional Managing Directors and Deputy Managing Directors and heads of Agriculture department of 38 banks were present.

The meeting discussed the progress in distribution of agricultural credit and also laid emphasis on qualitative standard of credit side by side with the quantity of distribution.

The meeting discussed about the credit distribution in renewable energy sector including solar power, comprehensive cattle farming and bio-gas.

Analysis on the credit distribution till 31st March 2012 shows that agri credit distribution by the public and private sector banks has increased by Tk. 902.02 crore which is 41.96 percent higher than that of previous financial year.

The executives of the commercial banks hoped that attaining the agri credit distribution target for the current fiscal year will be easily possible within the remaining period of time.

The meeting also reminded the bank officials about the remedial measures if the distribution deficit becomes higher than that of the set target.

The Daily Sun/Bangladesh/ 26th April 2012

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