Bangladesh Bank has increased the farm loan disbursement target by 3.29 per cent to Tk 14,595 crore for local and foreign banks for the fiscal year 2013-14, said officials of the central bank.
The BB had set annual farm loan disbursement target at Tk 14,130 crore for the FY 2012-13, Tk 13,800 crore for the FY 2011-12 and Tk 12,617.40 crore for the FY 2010-11.A BB official told New Age on Monday that the BB had already sent the fiscal year target to the finance ministry as the finance minister will declare the target formally in his budget speech in the parliament on Thursday.
According to the BB policy, every bank has to disburse at least two per cent of their total lending in the agricultural sector, he said.
The BB has set the new target of farm loan disbursement for the FY 2013-14 on the basis of the banks’ outstanding loan and advances, he said.]
The banks disbursed Tk 13,136.91 crore, or 95 per cent of the annual target of Tk 13,180 crore in farm loan in the FY 2011-2012.
In FY 2010-11, the banks disbursed Tk 11,431.93 crore, or 96.50 per cent, in farm loan against the target of Tk 11,846.40 crore.
Farm loan disbursement by the banks stood at Tk 11,740.16 crore in July-April of the FY 2012-13 against the annual target of Tk 14,130 crore.
The banks collectively disbursed 83.09 per cent of their annual farm loan target in the first 10 months of the FY 2012-13 whereas 73.92 per cent was disbursed during the same period of the FY 2011-12.
-With New Age input
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