After the outbreak of coronavirus, the interest rate on agricultural loans has come down to 4 percent. Farmers are also getting new concessional interest loans. Its benefits are also matching. Farmers are repaying loans. Even if anyone do not repay the loan at this time, no one will default. According to the central bank, in the first four months (July-October) of the current fiscal year 2020-21, farmers have repaid loans worth Tk 8,457 crore. This amount is Tk 1,699 crore more than the Tk 6,758 crore paid to farmers in the same period last year. Ali Hossain Pradhania, managing director (MD) of Bangladesh Krishi Bank, said, “We have disbursed almost all the incentive loans. Farmers are also repaying their loans as before. The time was the agricultural season, it could also be a reason to repay the loan. We have not put any emphasis on debt collection, the farmers are repaying the loan on their own initiative”. Ali Hossain Pradhania further said, “We have given incentive loans to brand new customers. It will bring positive change in the agricultural sector. Many of the farmers who have received loans will play a role in increasing production”. It is learned that the total disbursement target of agricultural loans of 59 banks in the current financial year is Tk 26,292 crore. Of this, Tk 6,629 crore was disbursed during July-October, which is 25.22 percent of the target for the entire financial year. In the same period of the last financial year, Tk 6,054 crore was distributed, which is 25.10 percent of the target of that year. Bank officials say real farmers repay loans. A portion of the loan is disbursed through non-governmental organizations (NGOs). Even though the banks have given concessions, they have continued to collect loans. As a result, debt collection has increased. This calculation of loan disbursement is outside the incentive loan. Debt disbursement has increased as interest rates on all agricultural loans have come down. Source: Online/SZK
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