The Bangladesh Bank (BB) yesterday asked all the state-owned commercial banks to suspend agricultural loan recovery activities in the Aila-hit areas for next one year, as the disaster caused massive crop damage in the southern part of the country.
“It has been decided that the loan recovery activities will remain suspended for next one year to help farmers mitigate their losses,” said a central bank circular in the wake of a cabinet decision on Monday.
It said the banks would ensure that the farmers do not face any harassment in this regard and the banks’ own “complain and loan supervision cell” would regularly monitor the situation.
In a separate circular, the BB said the cyclone also caused massive damage to the shrimp farming in the region and asked the state-owned commercial banks to reschedule the loans of the affected farmers through relaxing the down payment conditions.
It asked the banks to send their senior executives to the affected areas to get a spot account and give fresh loans accordingly.
The central bank also asked the banks to ensure that the farmers would not face any harassment in getting the loans. The banks’ own “complaint and loan supervision cell” will regularly monitor the situation, it said.
In another circular, the BB called upon the banks and financial institutions to undertake CSR programmes in the cyclone-hit areas to rehabilitate agriculture, fisheries, livestock and environment
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