Circular 2018 has been published.
system is given here in this page. According to the information collected from
this year. Prime Minister Sheikh Hasina is expected to inaugurate the specialized bank.
Job Circular 2018 has already been published by the authority. Specially,
is working for all the people and Palli Sanchay Bank is maintaining its work properly. Newly set up specialized
is likely to give seasonal loans to the rural poor for improving their livelihood. Palli Sanchay bank helps us to develop our social economy. Bank and Financial Institutions Division yesterday also issued another circular on setting up the Palli Sanchay Bank as per the law of Palli Sanchay Bank under the provision four.''
Palli Sanchay Bank to give seasonal loans
The bank is scheduled to start commercial operation by December this year. Prime Minister Sheikh Hasina is expected to inaugurate the specialised bank.
Newly set up specialised Palli Sanchay Bank is likely to give seasonal loans to the rural poor for improving their livelihood.
Former environment secretary and chairman of the bank Dr Mihir Kanti Majumder came up with the disclosure yesterday at the banking division in the city after receiving the gazette notification on his appointment issued by the Bank and Financial Institutions Division.
Bank and Financial Institutions Division yesterday also issued another circular on setting up the Palli Sanchay Bank as per the law of Palli Sanchay Bank under the provision 4. Banking division secretary Dr Aslam Alam signed this circular.
The bank is scheduled to start commercial operation by December this year. Prime Minister Sheikh Hasina is expected to inaugurate the specialised bank.
“Usually existing micro credit lending agencies give loan to the rural poor either on weekly or monthly repayment system, which is useless for the borrowers as they need to spend most of the money for the payment of grocery shops,” Palli Sanchay Bank chairman Majumder told the Dhaka Tribune. He has been appointed for three years.
As the small farmers and fishery businessmen will start their harvesting season in a couple of months, they are poised to face seasonal financial difficulty in monthly or weekly basis repayment to the regular micro credit financial institutions across the country.
Majumber said: “The fishermen will repay their credits borrowed from Palli Sanchay Bank, after selling their pond fishes in the market.”
The main goal of the Palli Sanchay Bank is to eradicate poverty from the country because the poor people, who will deposit money in the bank, will be able to become entrepreneur.
As asked about the purpose of setting up another specialised bank for rural poor along with the existing Grameen Bank, former environment secretary noted that the Palli Sanchay Bank had no plan to undermine the success of the micro-credit guru.
In case of Palli Sanchay Bank, capital will be generated through the savings of its clients while the clients of Grameen Bank can directly borrow money from the bank without any collateral.
“We have adequate capital worth Tk2,000 crore, out of which, we have disbursed loans worth Tk1,100 crore under “One House, One Farm” project. The bank still has a savings capital of Tk600 crore,” he added.
Former secretary also observed that the Palli Sanchay Bank and “One House One Farm’’ will be run simultaneously for generating new funds, said the chairman of the bank.
Majumber also noted there are around 25 lakh members in the Palli Sanchay Bank, who are saving their money in 40 thousand Sanchay Banks across the country against a total of 87 lakh borrowers of Grameen Bank.
Credit interest of Palli bank is not above 8% while the interest rate of the micro credit institutional like Grameen Bank is above 27%, he also said .
On July 3, the Parliament enacted the law for Palli Sanchay Bank for rural poor along the lines of Grameen Bank.
Source:
Pally Sanchay Bank Website
