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08 Nov 2013   12:10:22 AM   Friday BdST A- A A+ Print this E-mail this

Now comes Palli Sanchaya Bank


The government took a decision in principle to establish a new financial institution named ‘Palli Sanchaya Bank’ that will mobilise savings from and lend to rural people.

This major decision was made at a meeting held at the ministry of finance Thursday with Finance Minister AMA Muhith in the chair, said a daily sun report.

“It’s finalised that the government will establish Palli Sanchaya Bank,” the finance minister told the press after the meeting.

He said the bank is going to be established with the objective of disbursing credits and providing deposit services to the beneficiaries of the ‘One-house, one-farm’ project of the ruling government.

“A guideline will be formulated for setting up this bank, which will be sent to the Law Ministry next week for analysis and checking. Then the proposal will be placed before the cabinet for approval. If it gains the cabinet nod, then it will be placed in parliament,” Muhith informed.

He hoped that the proposal for guideline may be raised in parliament on November 18 in the current last session of the legislature.  

There are a total of 10,38,000 beneficiaries of the ‘One-house, One-farm’ project for whom the government has built a fund of Tk 1,332 crore.

The Palli Sanchaya Bank is being established so that the beneficiaries could continue their economic activities even after the end of the term of the project on backyard farm.


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