Monday, March 30, 2020 | ePaper

ABAK project makes 2700 villagers self-reliant

  • Print
Correspondent, Khulna :
A total of 2,700 villagers of Rupsha upazila in Khulna became self reliant after getting financial support from 45 branches of Palli Sanchay Bank (PSB) under the Ekti Bari Ekti Khamar (EBEK) project, which has been renamed as Amar Bari Amar Khamar (ABAK) project recently.
Palli Sanchay Bank is giving financial support to poor and extreme-poor families for becoming self-reliant by providing them with collateral -free loans and bringing their micro-savings in a revolving credit scheme, said Snigdha Aktar, General Manager of PSB in Rupsha upazila.
Snigdha, also the coordinator of 'Amar Bari Amar Khamar' project of the upazila, said the PSB, which is focused on bringing in disadvantaged people, especially women entrepreneurs under financial service facilities, has been providing collateral-free loans to rural poor since its inception in 2014.
"Unlike many other banks, PSB encourages and helps underprivileged people to become involved in income-generation activities, which eventually are improving their living standard," Snigdha added.
She said PSB provides financial and banking supports only to the members of the Village Development Organisation (VDO) who want to do income-generating activities under the 'Amar Bari Amar Khamar", Project.
Currently, the bank has given loan of Taka 3.13 crore among family members of 2017 VDOs in the upazila. The members have so far deposited about Taka 1.86 crore while the government deposited festival bonus of Taka 1.25 crore in their bank accounts.
"We have collected 80 percent loan so far from the VDO members who are also PSB holders", she added.
Snigdha Aktar also said PSB is creating huge opportunities for the rural people to help them become self-reliant.
The loans are given for cow fattening, raising dairy cows, manufacturing agro-industrial tools and spare parts, producing vegetable and spices and establishing agro-based small industries, cottage industries, fisheries and nursery.
The amount of loan depends on the investment plan of the borrowers.  However, a small entrepreneur can get a loan of Tk 10,000 to 40,000 with 8 percent interest; medium entrepreneur can get a loan over Tk 50,000 to Tk 3,00,000 with 5 percent interest while the PSB are giving 3.5 percent interest to their account holders against their deposit.

More News For this Category

Professor Dr. Qazi Shahidul Alam, Director of Islami Bank Bangladesh Limited, inaugurating the 'Mujib Corner' at its Bogura Branch on the occasion of the birth centenary of Bangabandhu Sheikh Mujibur Rahman as chief guest recently. Md. Abdus Sobhan, Bogura Zonal Head, AKM Delowar Hossain, SVP of the bank and local elites were also present.

Professor Dr. Qazi Shahidul Alam, Director of Islami Bank Bangladesh Limited, inaugurating the 'Mujib Corner' at its Bogura Branch on the occasion of the birth centenary of Bangabandhu Sheikh Mujibur Rahman as chief guest recently. Md. Abdus Sobhan, Bogura Zonal Head, AKM Delowar Hossain, SVP of the bank and local elites were also present.

Mohd. Ziaul H Molla, Deputy Managing Director of Bank Asia Ltd and Mufakkharul Islam Khasru, Managing Director of Finlay Properties Limited, exchanging documents after signing an agreement at the bank's Chattogram Zonal Office recently. Under the deal, the bank will facilitate buyers of Finlay Properies Limited through providing Home Loan at faster process with privileged rate.

Mohd. Ziaul H Molla, Deputy Managing Director of Bank Asia Ltd and Mufakkharul Islam Khasru, Managing Director of Finlay Properties Limited, exchanging documents after signing an agreement at the bank's Chattogram Zonal Office recently. Under the deal, the bank will facilitate buyers of Finlay Properies Limited through providing Home Loan at faster process with privileged rate.

Walton disbursed Tk 77cr among its employees to face pandemic

Economic Reporter :Walton has disbursed Tk 77 crore among the employees from its profits for the period of 2018-19 amid the countrywide lockdown to stop the spread of novel coronavirus

NRBC Bank announces free ATM services for its debit card holders

Economic Reporter :NRBC Bank will not take any fee for cash withdrawal by its debit card from any ATM booth in Bangladesh during the ongoing general holidays."During the ongoing general

Nagad charges transaction fees violating govt's instruction

Al Amin :Nagad, the mobile financial service operator (MFS) of Bangladesh Post Office, is charging fees in case of cash transactions violating the government's announcement not to charge for a

: A S M Zakir Hossain, Senior Vice President & Zonal Head of North Bengal Region of Mercantile Bank Limited, inaugurating the bank's 149th branch at Syedpur in Nilphamari by cutting ribbon on Wednesday. Md Mamunur Rashid, Vice President and Head of Dinajpur Branch, Syeed Abdullah-Al-Mahdi, Head of Syedpur Branch and Abul Kalam Mintu, Vice President of Syedpur Chambers of Commerce, among others, were present.

: A S M Zakir Hossain, Senior Vice President & Zonal Head of North Bengal Region of Mercantile Bank Limited, inaugurating the bank's 149th branch at Syedpur in Nilphamari by cutting ribbon on Wednesday. Md Mamunur Rashid, Vice President and Head of Dinajpur Branch, Syeed Abdullah-Al-Mahdi, Head of Syedpur Branch and Abul Kalam Mintu, Vice President of Syedpur Chambers of Commerce, among others, were present.

Closure of shopping malls in city extended till April 4

Economic Reporter :Dhaka Metropolitan Shop Owners Association on Sunday decided to extend the closure of all shopping complexes and malls in the city till April 4 coinciding with the government's

Nazmul Hassan MP, Managing Director of Beximco Pharma Limited (a concern of Beximco Group) handed over the first consignment of Personal Protective Equipment (PPE), medicines, test kits for diagnosis for protecting the frontline healthcare workers dealing with the COVID-19 patients to Prof. Dr. Meerjady Sabrina Flora, Director, IEDCR, at a ceremony at a local hotel in the city on Saturday.

Nazmul Hassan MP, Managing Director of Beximco Pharma Limited (a concern of Beximco Group) handed over the first consignment of Personal Protective Equipment (PPE), medicines, test kits for diagnosis for protecting the frontline healthcare workers dealing with the COVID-19 patients to Prof. Dr. Meerjady Sabrina Flora, Director, IEDCR, at a ceremony at a local hotel in the city on Saturday.

Udoy Hakim, Executive Director of Walton Group, handed over the first consignment of Personal Protective Equipment (PPE) for protecting the volunteer's dealing with the COVID-19 patients to Rafiqul Islam Azad, President and Reaz Chowdhury, General Secretary of Dhaka Reporters' Unity (DRU) at its office in the city on Saturday.

Udoy Hakim, Executive Director of Walton Group, handed over the first consignment of Personal Protective Equipment (PPE) for protecting the volunteer's dealing with the COVID-19 patients to Rafiqul Islam Azad, President and Reaz Chowdhury, General Secretary of Dhaka Reporters' Unity (DRU) at its office in the city on Saturday.

BCKF distributes sanitisers

Business Desk :Borhanuddin Chhatra Kalyan Foundation (BCKF) on Saturday distributed hand senitizers and soaps among the poor people in different areas of Borhanuddin Upazil in Bhola district.The members of the