Palli Sanchay Bank Job Circular 2017
Newly set up specialised Palli Sanchay Bank is likely to give seasonal loans to the rural poor for improving their livelihood.
Former environment secretary and chairman of the bank Dr Mihir Kanti Majumder came up with the disclosure yesterday at the banking division in the city after receiving the gazette notification on his appointment issued by the Bank and Financial Institutions Division.
Bank and Financial Institutions Division yesterday also issued another circular on setting up the Palli Sanchay Bank as per the law of Palli Sanchay Bank under the provision 4. Banking division secretary Dr Aslam Alam signed this circular.
The bank is scheduled to start commercial operation by December this year. Prime Minister Sheikh Hasina is expected to inaugurate the specialised bank.
“Usually existing micro credit lending agencies give loan to the rural poor either on weekly or monthly repayment system, which is useless for the borrowers as they need to spend most of the money for the payment of grocery shops,” Palli Sanchay Bank chairman Majumder told the Dhaka Tribune. He has been appointed for three years.
As the small farmers and fishery businessmen will start their harvesting season in a couple of months, they are poised to face seasonal financial difficulty in monthly or weekly basis repayment to the regular micro credit financial institutions across the country.
Majumber said: “The fishermen will repay their credits borrowed from Palli Sanchay Bank, after selling their pond fishes in the market.”