Regulatory Alerts2013-07-23
Added · Updated
Agricultural & Rural Credit Policy and Programme for the Fiscal Year 2013-2014
The policy sets an agricultural and rural credit disbursement target of Tk. 14,595 crore for banks in FY 2013-2014, establishing a requirement for Private and Foreign Commercial Banks to allocate 2% of their net loans and advances toward this sector. Institutions failing to meet their specific targets must deposit the unachieved portion with Bangladesh Bank for one year, earning interest at the bank rate. Additionally, eight newly licensed banks are mandated to disburse a minimum of 5% of their net loans and advances as agricultural and rural credit, while the Bangladesh Rural Development Board is required to disburse Tk. 972 crore from its own funding.
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