The Bangladesh Bank board on Tuesday decided to create a refinance fund worth Tk 200 crore for making Tk 10 accounts active, especially those of the marginal and landless farmers who do not have enough savings to keep their accounts moving, said officials of the central bank. The marginal and landless farmers, small shop owners, hawkers and people affected by river erosion having the Tk 10 accounts will get loans under the refinance scheme with a six per cent interest rate.
A BB official told New Age on Tuesday that the central bank would disburse the revolving fund to the banks which are assigned to open the accounts.
A client will get maximum Tk 35,000 in credit from the banks for one year. The client will get a six-month grace period in repaying the loan.
The banks including Sonali Bank, Janata Bank, Agrani Bank, Rupali Bank, Bangladesh Krishi Bank, Rajshahi Krishi Unnayan Bank and BASIC Bank opened around 1.30 crore accounts with initial deposit facility of Tk 10.
But the majority of the accounts are now inactive, he said. He said the banks would disburse the loan under the refinance fund for income generating activities.
The banks will receive the fund from the central bank with interest rate of five per cent.
The BB, however, will provide subsidy at three and a half per cent interest rate to the banks.
The banks will be able to claim the subsidy when they will recover their loans from the account holders under the refinance fund, the BB official added.
-With New Age input
