Staff Correspondent, bdnews24.com
Published: 2017-07-27 21:13:40 BdST
Bangladesh Bank announced the new target in its Agricultural and Rural Credit Policy and Programme for the FY 2017-2018 on Thursday.
Deputy Governor SM Moniruzzaman highlighted the significant parts of the policy at a media conference in the central bank headquarters.
Besides the commercial banks, he said, Bangladesh Samabaya Bank is to disburse Tk 200 million and Bangladesh Rural Development Board Tk 7.2 billion in agriculture loans in the current financial year.
As per the new policy, Credit Information Bureau investigation is not required to approve a loan of up to Tk 250,000 for facilitating cultivation of crops.
Moniruzzaman pointed out that Bangladesh Bank had already reduced the ceiling of interest on agriculture loans from 10 to 9 percent for the current fiscal year.