5:16 pm - Sunday May 24, 5665

Bank credit to rickshaw-pullers, betel-nut traders planned

Bangladesh Bank (BB) has decided to use a part of its Tk 200 crore refinancing scheme formed to provide credit to ‘Tk 10’ account holders. Rickshaw-pullers, betel-nut and bidi traders, tea-stall owners, cobblers or hawkers will have access to this credit, thanks to the central bank’s financial inclusion initiative.

“The rate of interest will be at 6 percent and an individual will be able to take maximum Tk 40,000 as loan” , said a senior officer of the central bank . 

A playful child on a rickshawBB will soon issue a circular in this regard, the BB official told BSS.

He said the central bank is planning to expand its financial inclusion initiative to bring marginal people such as rickshaw- pullers, betel-nut and bidi traders, tea- stall owners, cobblers or hawkers under this initiative.

Potters, salon owners, small bruit traders, watch and key repairers and mobile phone flexi- load service providers will also have access to this credit facility, he added.

Of the 6 percent interest, the service providing commercial banks will get 4.5 percent while the central bank 1.5 percent, he said, adding that if the central bank fails to meet the fund operating cost with this 1.5 percent interest, it would give subsidy from Corporate Social Responsibility (CSR) programme.

Commercial banks which are interested to provide this service will have to sign agreement with BB’s green banking and CSR department.