Farmers caught by credit, but Nayakrishi is immune…
Dr.M.A. Sobhan
The Bangladesh Bank (B B) has recently expressed concern for defaulting agricultural loans (the Shokaler Khabar 12 March 2014). The B B has also instructed the concerned scheduled banks to take effective step for reducing the defaulters in agricultural loans. The defaulted farm loan in the banking sector had increased by 44 percent as of January 31, 2014 from the same date a year ago.
The situation of much acknowledged microcredit is not so different from agricultural loan. A BBC report said, in Bangladesh poor people are selling organs as a last resort to repay their microcredit debts. The report said:”Kalai, like many other villages, several villagers have resorted to selling organs to pay back microcredit loans that were meant to lift them out of poverty”(Octob...