As many as four State-owned Commercial Banks (SoCBs), namely the Sonali Bank, Agrani Bank, Rupali Bank and Janata Bank, have reportedly sought refinance fund from the Government so as to lend money to the rawhide traders, as per media reports.
With Eid-ul Azha just round the corner, the four aforementioned banks have allocated Taka 586 crore to lend to leather traders so as to help them procure hides of animals that would be sacrificed during the upcoming festival.
As per reports, top-rung officials of these banks reportedly held a meeting with the Finance Ministry recently, wherein they have requested for 50 per cent of their total disbursed loan as refinance capital.
The rate of interest for the said fund has reportedly been proposed at 7 per cent, of which borrowers would have to pay 4 per cent of the interest while the remaining 3 per cent would be borne by the Government.
