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RAKUB disburses Tk3.44bn loan in northwest region

  • Published at 06:51 pm November 7th, 2013
RAKUB disburses Tk3.44bn loan in northwest region

Rajshahi Krishi Unnayan Bank (RAKUB) has disbursed around Tk3.44bn as loan to boost rural economy alongside employment generation in the country’s northwest region in the first four months of the current 2013-14 fiscal.

Of the disbursed loans, Tk1.36bn for crop production, Tk0.03bn for fisheries, Tk0.21bn for animal resources, Tk0.01bn for irrigation machineries, Tk0.065bn for agro-based industries, Tk0.19bn for SMEs, Tk0.98bn as cash credit, Tk0.215bn for poverty reduction and Tk0.38bn for different other need-based sectors.

Side by side with the disbursement, the bank has also recovered Tk4bn and mobilized deposit worth Tk22.89bn during the last four months.

RAKUB Managing Director, Mofazzal Hossain told the bank has set a target of disbursing Tk14.5bn as loan, recovery of Tk15bn including classified loan worth Tk6.5bn and deposit mobilization of Tk30bn in the current fiscal, reports BSS.

He said the present government had earmarked the huge money for RAKUB for disbursing as crop and rural uplift loan only in the northwest Bangladesh during the current fiscal.

To build a poverty-free Bangladesh, he said the bank had enhanced its lending activities in multipurpose potential fields for boosting agriculture production, intensifying food security and flourishing poultry and dairy sectors to reduce protein deficiency.

Production of pulse, oil-seed, maize and spice crops were brought under special credit programme at 4% interest rate to lessen the import pressure of the items.

Disadvantaged and underprivileged people in the region were brought under the financial inclusion programme.

“We have adopted special credit programme for encouraging the people for setting up solar power, biogas and waste management plant for generating eco-friendly and alternative power to face the power supply deficit,” he said.

He also mentioned that credit is being extended to the sector on a priority basis.

The bank has adopted multipurpose development programmes at the grassroots to make the credit programmes easier. Emphasis has been given on enhancing credit flow towards exploring the potential sectors of the region. Level best effort to ensure transparency and accountability in all the banking activities is continuing.

Apart from this, importance has been given to increasing relations between the bankers and the customers especially the rural farmers for boosting farm production, he added.

More than 120 branches have, so far, been brought under automation and all the 371 branches will be brought under the modern system by 2014 through which the bank will be able to provide various modern banking services online, by means of SMS and ATM booths.