Rajshahi Krishi Unnayan Bank (RAKUB) has set a target of disbursing agricultural loans of Tk 30 billion in the country’s northwest (NW) region during the current 2021-2022 fiscal year to help increase crop production and boost rural economy.
The specialised commercial bank will distribute the loans through its 383 branches in all 16 districts under Rajshahi and Rangpur divisions, Ismail Hossain, Managing Director of RAKUB, told BSS in Rajshahi on Monday.
Target has also been set to recover loans of Tk 26 billion, including classified loans with Tk 5.8 billion, and raise deposit collection to Tk 5.0 billion, he said.
Hossain said target has been fixed to disburse loan of Tk 9.5 billion for crop production, Tk 1.5 billionb 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 loan, Tk 500 million for microcredit and poverty alleviation and Tk 3.0 billion for others during the current fiscal.
As the largest development partner in agriculture as well as agro-based industry sector of the northwest Bangladesh, currently, the bank has adopted the effective work plan which is being implemented at the grassroots level to attain all the targets within the stipulated time.
The bank has also disbursed Tk 27.63 billion besides recovering loan worth around Tk 27.19 billion, including classified loan of around Tk 4.24 billion, during the last 2020-21 fiscal year.
Hossain said the bank enhanced its lending activities in multipurpose potential fields for boosting agricultural production, intensifying food security and flourishing poultry and dairy sectors despite the pandemic situation.
RAKUB has entered online banking services through launching a real time gross settlement (RTGS) system.
With this breakthrough, all clients of the bank can avail the inter-banking transaction facilities. Apart from this, they can also carry out their transaction with different other banks instantly.
Hossain said the bank has entered online banking through launching the live operation of Core Banking Solutions (CBS) on December 19, 2019. Subsequently, the RAKUB executed CBS in all its 383 branches on December 14 last year aimed at providing modern services to its clients, he added.
Apart from this, mobile banking, agent banking, booth banking and ATM services will be launched by the end of this year, he added.