Jebun Nesa Alo
The loan defaulters are making serious efforts to reschedule their accounts so they do not disqualify for participating in the upcoming general election, said Bangladesh Bank sources.
As per the amended Representation of the People Order (RPO), the aspirants of the parliamentary election require clearance of default loans and outstanding utility bills.
Meanwhile, Bangladesh Bank governor Dr Atiur Rahman recently instructed the Credit Information Bureau (CIB) of the central bank to prepare related data.
A senior official of CIB told Dhaka Tribune that they are “ready logistically to provide information on loan defaults by the announcement of election schedule.”
Bangladesh Bank has seen an increase in applications for loan rescheduling recently from both the state-owned and private commercial banks, said a central bank official.
“We are following regulation in approving applications,” he added.
The banks also utilised the chance of loan rescheduling before election to recover their classified loans by receiving down-payments.
“Defaulters can regularise their loans either for short time or long time if they want to take part in the election. It is a great chance for banks to recover classified loans,” said Nurul Amin, managing director of National Credit and Commerce Bank Ltd.
“It will help reduce burden of nonperforming loans in the balance sheet.”
He said they have received many applications for rescheduling big loans for past few days particularly from business people.
However, there were no such applications that used political influence, added Nurul Amin.
Echoing with the NCC Bank MD, Pubali Bank MD Helal Ahmed Chowdhury said: “Many politicians are negotiating with us to reschedule their loans.
But it’s a great opportunity for us to recover classified loans.”
According to a Bangladesh Bank circular, no default loan can be rescheduled more than three times.
The first time rescheduling is done on payment of at least 15% of overdue instalments or 10% of total default amount, whichever is lower.
In the second rescheduling, at least 30% of overdue or 20% of total default loan – whichever is lower – will have to be paid.
The third rescheduling requires payment of at least 50% of overdue instalment or 30% of the total default loan – whichever is lower.
The classified loans rose 8% to Tk567bn in the July-September period quarter from Tk523bn of the previous three months, said Bangladesh Bank data.
The classified loans are about 13% of total default loans which amount to over Tk4tn.
Of the total classified loans, four state-owned banks have Tk241bn, private commercial banks Tk223bn, specialised banks Tk87bn and foreign banks Tk14bn.
Of the state-owned banks, Agrani Bank’s classified loan stood at Tk51bn, Janata Bank Tk47bn, Rupali Bank Tk16bn and Sonali Bank Tk125bn.
All the existing potential sectors and sub-sectors of agriculture should be brought under qualitative and quantitative investments for making the region’s agro-based economy more vibrant.
This was observed at the 401st meeting of the board of directors of Rajshahi Krishi Unnayan Bank (RAKUB) held recently. Services of Rajshahi Krishi Unnayan Bank (RAKUB) should be taken at the doorsteps of the farmers for elevating their living and livelihood condition, the board meeting observed.
The meeting was held at RDRS conference hall in Rangpur on Monday. With board chairman Prof Dr Shah Newaz Ali in the chair, board members--Mofazzal Hossain, Ekram Hossain, Prof Modan Mohan Dey and Prof Obaidur Rahman Pramanik were present at the meeting.
Deputy managing director Abu Hanif Khan, general managers Abdul Khaleque Khan and Habibur Rahman and secretary Emdadul Haque also attended the meeting.
For the sake of sustainable livelihood of the farmers and for bolstering the agro- based economy, the meeting called for increasing the need- based credit flow.
The meeting discussed elaborately on how to make the bank’s operational and commercial activities more dynamic through strengthening the credit support for both farm and non-farm prospective fields.
Terming the farmers as the vital force to boost up the agricultural productions the board expressed its commitment to protect the farmers’ interests as a whole.
The meeting reviewed overall activities of the bank and took some important decisions relating to its operational and administrative matters.
The meeting laid emphasis on intensifying the bank’s activities to supplement the government’s efforts to expand social safety net and ensure poverty reduction and food security, the release added.
Credit disbursement to the agriculture sector shot up by 24.82 per cent in the first quarter (July-September) of the current fiscal year 2013-14 compared to the same corresponding period of the previous FY 2012-13. According to the data of Agricultural Credit and Financial Inclusion Department of Bangladesh Bank, both the public and private commercial banks have disbursed Tk 2,861.58 crore in the period of July-September of FY 2013-14 while they credited Tk 2,292.52 crore in that period of the previous fiscal year, a 24.82 per cent more than the first three-month of the FY 2012-13.
The BB data also shows that the loan disbursement to the agriculture sector in the Q1 of FY 2013-14 was 19.61 per cent of the credit target of Tk 14,595 crore for the agriculture sector.
Besides, the rate of credit realisation in the agriculture sector was also higher in the July-Sept of 2013-14 than the same corresponding period of the previous fiscal year 2012-13.
As per the central bank’s data, the banks have realised Tk 11,000 crore credit from the agriculture sector in the first three-month of FY
2013-14 while the amount of credit realisation in this sector was Tk 9290.56 crore in the same corresponding period of FY 2012-13.
Provash Chandra Mallick, general manager of Agricultural Credit and Financial Inclusion Department of BB, said the amount of agriculture loan has been increased in recent time due to mainly strong supervision and keeping an eye to the agriculture development by the central bank.
Moreover, at the outset of the current fiscal year the demand for agriculture loan was high during ‘aman season,’ he said.
“The risk in the agriculture loan is very low as most of the agro-loan is small in size. Thus, the loan recovery rate is very sound,” Mallick said.
Analysing the central bank’s data, it has been found that in the July-September period of 2013-14, the state-owned commercial banks have distributed Tk 1,699.43 crore agro-loan among farmers and the private commercial banks along with foreign banks disbursed Tk 1162.15 crore credit to the agriculture sector.
Among them, Bangladesh Krishi Bank have allowed highest amount of agriculture loan to the farmers which was Tk 110.24 crore.
And, the Rajshahi Krishi Unnayan bank disbursed Tk 237.77 crore agro-loan securing second position in terms of agro-loan disbursement.
Among the state-owned commercial banks, Sonali Bank has disbursed Tk 113.12 crore agro-loan.
Financial sector entities and energy companies dominate the list of top 10 taxpaying firms that would be receiving “tax cards” from the National Board of Revenue next week.
The cards, to remain valid for one year, will be given for fiscal 2010-11 and fiscal 2011-12.
“We are providing the tax cards to encourage people to become tax compliant and help the government increase the amount of direct tax needed to finance the annual budget,” an NBR official said.
Of the 10 firms to receive the tax cards for fiscal 2011-12, five are from the financial sector — three banks, one life insurance company and one linked with the stockmarket — three from the energy sector and two from the manufacturing sector.
The financial sector entities had dominated the award list for fiscal 2010-11 as well: the list consists of six firms from the banking and finance sector, to be rounded off by firms from the energy and manufacturing sectors.
Well-known conglomerates, however, remained out of the lists, largely because of tax-related disputes, the official added.
From the companies, chairman and managing director of a firm will get the tax cards.
Together with the corporates, the revenue authority is set to honour 10 individuals with tax cards as well for their contributions to the state coffer, at the ceremony on September 15 marking the Income Tax Day.
The NBR has been observing the Income Tax Day since 2008 to motivate the people of a country rife with tax-dodging and non-compliance into paying taxes regularly.
At present, less than 1 percent of the 15.36 crore population pay taxes. The revenue authority thinks the number should be higher, given that the country has been experiencing steady economic growth, rising income and growing middle-class.
Also, the tax authority will honour taxpayers from district and city corporation levels in two categories — Longtime and Top taxpayers. Two longtime and three top taxpayers in each district or city corporation would be awarded for fiscal 2012-13.
The official said the companies were selected due to not having any default loan, income tax and VAT (value-added tax) related disputes in court. The firms paid taxes upwards of Tk 100 crore in each of the two years, he said.
Tax card winners will get some privileges including priority to reserve seats in the state-run airline, trains and water transport. The tax card holders will also be able to use the Commercially Important Person lounge at airports, according to the policy framed in 2011.
News:Thy Daily Star/14-Sep-2013
A performance evaluation meeting of managers and field staffs of Rajshahi Krishi Unnayan Bank (RAKUB) of Joypurhat and Gaibandha zones was held in Bogra on Saturday.
Abdul Khaleque Khan, General Manager of Rajshahi Division, presided over the meeting, said a press release.
Md Mofazzal Husain, Managing Director of RAKUB attended the meeting as chief guest while Md Abu Hanif Khan, Deputy Managing Director and Md Habibur Rahman, General Manager of Rangpur Division were present as special guests.
A total of 49 branch managers and field staffs of the two zones took part at the meeting.
During the meeting, Md Mofazzal Husain suggested some guidelines to managers and field staffs of the bank for achieving the business target in the current financial year
News:Daily SUN bangladesh/12-May-12-2013