RAJSHAHI: Activities of Samabaya Bank in Rajshahi remained suspended for nearly 10 years. As a result, marginal farmers and small entrepreneurs are being trapped by the loan sanctioned at high interest rate by the NGOs.

Sources close to Samabaya Bank said the activities of Samabaya Bank were closed as the bank failed to repay a loan of Tk 55 lakh to the government. As a result, activities of 186 units of Samabaya Samity in various areas of the district remained stalled. At the same time, a substantial amount of money sanctioned to the field levels through various samabayas also remained unrealised for a long time.

Only in Godagari upazila there were 20 units of Samabaya Samity. Only two of these remained somehow active through the own initiatives of the members and others are now almost non-existent. Out of two active units, one is situated at Rishikul Union Bohumukhi Samabaya Samity Limited.

Years ago, farmers and small entrepreneurs used to get small agriculture and other small loans through these Samabaya Samities at a nominal interest rate. There was also no scope to becoming loan defaulter to any member because the loan was being sanctioned through forming co-operative societies.

As the activities of the Samabaya Bank remained closed for nearly 10 years, almost all the co-operative societies formed years ago no longer exist. As a result, farmers and small business entrepreneurs were drawing loan from various NGOs at an exorbitant, multiple interest rate and are turning paupers.