Agri-loans worth Tk 30 billion will be disbursed in the northwest

Agri-loans worth Tk 30 billion will be disbursed in the northwest

Special Desk :    |    ০২:৪৮ পিএম, ২০২১-০৮-১৬

To boost the economy and bolster crop production, Rajshahi Krishi Unnayan Bank (RAKUB) plans to disburse agricultural loans worth 30 billion takas this fiscal year to the Northwest (NW) region.

According to Ismail Hossain, Managing Director of RAKUB, the bank will distribute the loans through its 383 branches in all 16 districts of the Rajshahi and Rangpur divisions.

A target has also been set to recover Tk 26 billion in loans, including Tk 5.8 billion in classified loans, and to collect Tk 5.0 billion in deposits, he explained.

Hossain said target has been fixed to disburse loan of Tk 9.5 billion for crop production, Tk 1.5 billion for fisheries, Tk 2.5 billion for livestock, Tk 100 million for farm and irrigation machinery, Tk 7.50 billion for CMSME, Tk 5.4 billion continuous loans, Tk 500 million for microcredit and poverty alleviation and Tk 3.0 billion for others during the current fiscal.

In northwest Bangladesh, the bank is the largest partner in agricultural development and agro-based industries. Currently, the bank has adopted an effective work plan that has been implemented at the grassroots level to achieve all the targets within the stipulated period.

During the last fiscal year, the bank also disbursed Tk 27.63 billion and recovered about Tk 27.19 billion in loans, including around Tk 4.24 billion in a classified loan.

As a result of the current pandemic, Hossain said, the bank increased its lending to sustain agricultural production, improve food security, and flourish poultry and dairy industries.

Through its real-time gross settlement (RTGS) system, RAKUB is now offering online banking services.

The bank now offers interbank transaction services to all of its clients. Additionally, they can also carry out their transactions with other banks instantly.

During a press conference conducted on December 19, Hossain announced the launch of CBS (Core Banking Solutions). A CBS was then implemented in all 383 branches of RAKUB last December, to provide clients with modern services.

The company also plans to launch mobile banking, agent banking, booth banking, and ATM services by the end of the year.