Latest Breaking News On - Microcredit regulatory authority - Page 10 : comparemela.com
Female borrowers would get at least 25 per cent of the stimulus fund dedicated to the farmers, underprivileged women, professionals, and micro-enterprises, said the central bank yesterday. The Tk 3,000-crore fund was rolled out in April last year as part of the Bangladesh Bank's efforts to keep the micro-businesses afloat during the economic crisis brought on by the
Bangladesh
Microcredit-regulatory-authority
Bangladesh-bank
பங்களாதேஷ்
பங்களாதேஷ்-வங்கி
Banks have to implement instruction immediately, according to a BB notice.
Microfinance institutions (MFIs) with certificates from the Microcredit Regulatory Authority now give out the loans.
Under the package, the BB initially provides the fund to banks at 1 per cent interest, which they lend to MFIs at 3.5 per cent interest.
The MFIs are allowed to charge a maximum of 9 per cent interest to the borrowers.
MFIs usually charge about 25 per cent interest on their clients as their operational cost is too much high.
Banks have so far disbursed 63 per cent of the stimulus package through different MFIs.
Small businesses like roadside tea stalls can get loans, the highest amount of which would be Tk 75,000.
Bangladesh
Microcredit-regulatory-authority
Bangladesh-bank
பங்களாதேஷ்
பங்களாதேஷ்-வங்கி
vimarsana © 2020. All Rights Reserved.