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At a Glance

Introduction of Rural Savings Bank (psb):

 

Hon'ble Prime Minister's special initiative for poverty alleviation One Bari One Farm Scheme (now known as Amar Bari Amar Khamar Scheme) was taken up in 2009. In 2014, Palli Sanchay Bank was established with the intention of the Hon'ble Prime Minister to institutionalize the activities of the project. The authorized capital of the bank is Tk 1 thousand crores And the paid up capital is Tk 200 crore, each share is of Tk 100. Government owns 51% shares of the bank and societies own 49% shares. The Board of Directors of the bank has 15 members, out of which 8 are elected by the government and 1 is elected by the association from each administrative department. According to the Rural Savings Bank Act, the liabilities and assets of 40216 societies formed before 30/06/2016 under the project have already been transferred to the bank and after the formation of funds among the societies formed later, they are being transferred to the bank periodically.

 

So far 57293 village societies with 32 lakh members and funds have been transferred to banks. The remaining societies will be transferred to the bank when the project period ends in June, 2020. After transfer of all the societies from the project the total number of societies will be 1.20 lakh and the membership will be around 55 lakh. These associations are being run in remote areas of the country. To provide financial services to the members of the associations, branches have been set up in the bank's own building in 485 upazila headquarters and in the process of setting up branches in 5 more upazila headquarters. District offices are set up in most of the bank's own buildings in each district. The District Office supervises the branches. One field worker is working in each union. The servicing cost of bank micro loans is only 8% and the servicing cost of SME loans is only 5%. The members of the village association and the customers of the bank are very poor. These members are trying to alleviate poverty by increasing their income by setting up income-generating agricultural farms in their homes. Rural Savings Bank (psb) is moving forward to alleviate the poverty of the poor people of the country and is playing an important role in implementing the objectives and goals of the government.