Danger signal in the agricultural sector! Default loans have increased by 290 percent in a year

Although the default loan rate in the country's agricultural sector has been relatively controlled for a long time, the situation has taken a worrying shape recently. According to the latest data from the central bank, default loans in the agricultural sector have increased by about 290 percent in just one year. According to experts, the pressure of benami loan distribution, weak supervision and long-term outstanding loans is intensifying this crisis.

The report says that the increase in default loans is the highest in specialized banks. In March last year, the amount of default loans in these banks was Tk 2,709 crore, which increased to Tk 13,418 crore in March this year. In addition, the default loan rate has also increased significantly in Islamic banks and government commercial banks. Comparatively, this growth is somewhat lower in private banks.

Sources concerned claim that a huge amount of benami loans were distributed in the agricultural sector during the previous government, a large part of which is no longer being recovered. As a result, these loans are gradually turning into defaults. At the same time, the amount of outstanding loans has also increased alarmingly. In March last year, outstanding loans were Tk 10,970 crore, which increased to Tk 22,731 crore in a year.

Economists fear that financial risks in the agricultural sector may increase further if effective steps are not taken now. For this reason, emphasis is being placed on banks to be more proactive in recovering defaulted loans, strict monitoring of new loan disbursements, and ensuring transparency.