Farmers repaid Tk6277cr loan during COVID-19 period
Rumi Akter Polly of DOT
 In the first three months of the current financial year (July-September), farmers amid COVID-19 pandemic have repaid Tk 6,277.63 crores, which is 14.25 per cent of the total agricultural credit, reports Bangla Tribune.This information has been known from the report of Bangladesh Bank.
 Bangladesh Bank says farmers returned Tk 4,373.70 crores under normal circumstances last year. Compared to last year, this time the farmers have returned more than Tk 2,000 crores. Due to the pandemic, the farmers are not getting the benefit of not repaying the loan installments till next December. They also paid the loan installments during the COVID-19.
In this context, the former governor of Bangladesh Bank Dr. Atiur Rahman said, “Farmers return the money when they take it from the bank. It is their feature. Besides, many farmers may not know that there will be no problem if they do not repay the loan installments. As a result, the collection has increased due to the tendency of farmers to return their money even if they are in trouble. Another reason is that the bank’s agricultural loan collection may increase. That is, the farmers are repaid or deducted at the time of giving new loans. This time, since more loans have been distributed among the farmers, the collection has also increased.”
He said special incentives should be given to farmers who are returning money during the coronation period. And traders who do not want to return the money or want time to return should not be given any incentive.
Till September, the accumulated debt of the banks in the agricultural sector stood at Tk 44,042 crore. Of this, defaulted loans are Tk 4,909 crore. Which is 11.15 percent of the total debt.
In the first quarter of the current financial year, the banks have disbursed Tk 4,684 crore in loans to the agriculture sector. This is about 32 percent more than the same period last year. At the same time last year, the banks had distributed Tk 3,554 crore.