More than one member of a family can now get farm loan
Representational image.
The central bank has relaxed the policies of its Agricultural & Rural Credit Policy and Programme allowing multiple members of a family to avail farm loans.
In a statement Sunday (1 January), the Bangladesh Bank directed all commercial banks to allocate farm loans among new cultivators on priority basis instead of limiting the facility to specific farmers only.
On 28 July last year, the government introduced Agricultural & Rural Credit Policy and Programme for FY22-23 in a bid to ensure finance in building a sustainable agricultural system which would be farmer friendly and helpful in alleviating poverty.
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The central bank issued the latest instructions to make the programme more effective.
