Rajshahi 230,000 farmers get debt relief
The massage of great relief has come for millions of small and marginal farming in families in North Bengal who continue to farm under the burden of many years of debt.
According to the government’s election manifesto, Rajshahi Krishi Unnayan Bank (RAKUB) has freed 2 lakh 29 thousand 933 farmers’ families from debt by implementing the short schedule of principal and interest repayment of agricultural loans up to Tk 10,000.
Under this program, a total of 225 crore 74 lakh 99 thousand taka has been paid by the government.
As a result, many farmers who have been burdened with defaulted loans or outstanding agricultural loans for a long time are getting an opportunity to concentrate on agricultural work.
According to Rakab sources, the farmers of Rangpur division have benefited the most from the loan repayment program.
There, the government has paid the total debt of 178 crore 92 lakh 48 thousand taka of 1 lakh 79 thousand 278 farmer families.
On the other hand, the debt of 50 thousand 637 farmer families of Rajshahi division of Tk 46 crore 81 lakh 39 thousand has also been paid with the government funding.
The officials concerned say that many of the small and marginal farmers could not take new loans year after year due to small loans.
As a result, they could delay in using modern agricultural technology, collecting improved seeds or buying necessary fertilisers and agricultural inputs. As a result of the loan waiver, institutional credit will again be created for these farmers.
According to agricultural economists, when the debt burden on farmers is reduced, they can invest more in production.
It not only increases agricultural production but also brings positive momentum back to the rural economy. Farmers’ purchasing power increases, money flows into local markets and employment expands.
Rakab official said that this program has been implemented as soon as possible by following the prescribed process as per the instructions of the government.
The bank is proud to be the first bank in the country to successfully complete this initiative. The management authorities of the bank have expressed their gratitude to the government for providing this special facility for the welfare of the farmers.
They also said, the expansion of agricultural-friendly financial services Rakub will implement various programs in the future to distribute agricultural credit under easy terms and increase the production capacity of farmers.
The related expectation is that nearly two and a half lakh farmer families who will be freed from debt will return to farming with renewed enthusiasm. This will increase food production and farmers’ income and open up new horizons for positive changes in the rural economy of the northern region.
