Govt providing Tk 250cr capital to Palli Sanchay Bank
Published: 12:09 PM, 16 February 2021 Updated: 12:09 PM, 16 February 2021
Logo of Palli Sanchay Bank; Photo: Collected
The government is allocating Tk 250 crore to the state-owned Palli Sanchay Bank to meet the capital deficit. The Finance Division has recently issued a letter to release the money with certain conditions.
According to the relevant sources, the money is being allocated from the budget of the current fiscal year 2020-21 to overcome the economic crisis caused by the epidemic coronavirus.
This money will be distributed to the poor farmers of the country, expatriate workers and youth unemployed through business to create jobs and employment.
It is learned that after the conditional distribution of funds, a detailed summary will have to be submitted to the Finance Division by the Rural Savings Bank. This money has to be distributed within the existing policies and laws of the government.
The authorized capital of Palli Sanchay Bank is Tk 1000 crore and the paid-up capital is Tk 200 crore. The main goal of the bank is to create entrepreneurs as well as work for the welfare of the poor people of the country.