29 October, 188, 18:00
Update: 29 October, 18:10
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Borrowers will now get loans at just 4 percent interest in milk production, which was 5 percent earlier. These loans are available from the banks under the Bangladesh Bank's re funding program. The Bangladesh Bank has said it has taken initiative to make the country self-sufficient in milk.
With the benefit of the Bangladesh Bank, now banks can borrow loans from special banks and special financial institutions for the purchase and maintenance of cow-wean calves at 4% interest. This loan can be taken as a single and collective name. 40 thousand taka for a calf calf and 10 thousand taka for rearing. As a result, one can purchase a loan of up to two lakh rupees for the maximum four calves. This loan is not fully secured.
It is learned that in the distribution of this loan, the bank and the specialized financial institutions will provide the amount of interest they will face due to the distribution of loans at a lower interest rate than the prevailing interest in the market.
In order to make the country self-reliant in milk, the Bangladesh Bank has taken a re-financing program to lend 5 percent interest in 2015. At that time, it was said that in order to determine the interest rate of the loan, banks or financial institutions will get re-financing benefits from the Bangladesh Bank at the bank rate (currently the bank rate is 5%, which is variable). That is, at the customer level, the rate of interest on this loan was 5 percent.
According to this direction, banks or financial institutions could claim additional 5 percent of the interest rate on the loan against subsidy or subsidy to the Bangladesh Bank. According to yesterday's directive, the rate of interest at the customer level was reduced by 1 percent to 4 percent and upwardly, the issue of claims of 5 percent interest loss can be claimed by the Bangladesh Bank, due to the actual interest loss compared to interest rates applicable to the agriculture and rural credit policies. The new guidelines will be effective from November 1.
Central Bank has constituted a fund of Tk 200 crore to provide loan fund. In view of employment, efforts have been taken to increase production to reduce the import of milk.
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