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RAKUB to help farmers’ recoup losses caused by Covid-19, flood

BSS

Photo: IFAD

Rajshahi Krishi Unnayan Bank (RAKUB) has been working relentlessly to recoup the existing losses being caused by the novel Coronavirus (Covid-19) and flood in the country’s northwest region.

The specialized commercial bank has been providing loans to the potential and other worst affected agricultural sectors so that the borrowers can get back to their normal life after the best uses of their borrowed money.

The board of directors of the bank said these while taking part in the discussion of RAKUB’s 521st board meeting virtually on Thursday with Chairman Raisul Alam Mondal in the chair.

Through its 383 branches at present, RAKUB has been operating its activities as the largest development partner in all the 16 northwest districts of Rajshahi and Rangpur divisions targeting the agricultural sector and all its sub-sectors.

In addition to the chairman, Directors Humayun Kabir Kandaker, Abdul Wahab Bhuiyan, Tofazuddin Ahmed, Sudhendra Nath Roy and Dr Abu Sayed Nasir Uddin Khan joined the meeting from their respective offices.

RAKUB Managing Director Sajedur Rahman Khan and some other directors were present at the meeting in-person held at the bank’s board room.

Managing Director Sajedur Rahman Khan said RAKUB has disbursed around Taka 764.36 crore agriculture loans in the country’s northwest (NW) region during the last three months and 13 days of the current 2020-21 fiscal year to facilitate increasing crop production and enhance rural economy.

Apart from this, the bank recovered loan worth around Taka 360.63 crore and classified loan of Taka 61.06 crore besides deposit collection of Taka 25.05 crore during the same period.

The bank headquartered in Rajshahi has set a target of disbursing loans worth Taka 2,850 crore, recovering Taka 2,480.63 crore and deposit collection of Taka 1,200 crore during the current 2020-2021 fiscal year.

The state-owned RAKUB has also disbursed Taka 324.71 crore agriculture loans among 7,029 farmers through different branches from the Prime Minister’s stimulus package fund to boost agricultural production in the backdrop of the Covid-19 fallout.

The meeting noted that the bank’s administrative and operational activities must be more transparent and accountable for boosting agricultural production.

Terming the farmers as the vital force to boost up the agricultural productions, they expressed their commitment to protect the farmers’ interests as a whole.

The meeting reviewed the overall activities of the bank and took some important decisions relating to its operational and administrative matters.

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