Delwar Kabir, Jhenaidah
Tk 10 bank accounts, a government initiative to help the ultra-poor, have changed lives of hundreds of marginal and ultra-poor people of Jhenaidah district. Many of them have got rid of their poverty and now dreaming of better life. Ali Hossain, a tea stall owner at Kotchandpur upazila town in Jhenidah, is one who has changed his miserable living standard by dint of a 10 Taka bank account. Now he runs a shop selling tea, bakery items, soft drinks, toiletry products etc. with a Tk 50,000 loan using his 10 Taka bank account.
Ali said he was running his small tea stall for last 14 years. He was facing severe financial constraints and passing his days hard with the family members as his little earning was not even enough to live hand to mouth. Being inspired by the manager of Bangladesh Krishi Bank (BKB) at Kotchandpur town, Ali opened an account for Tk 10 a few months back and received a Tk 50,000 loan from the bank. With the loan, he expended his small business and now his sale as well as profit has increased several times. He is hopeful of repaying the loan within the stipulated time.
“I do not feel trouble to repay Tk 4500 monthly installment as I earn more from the shop now. Now I manage a family of seven-member well which was simply unimaginable to me just a few months back,” Ali said. BKB Kotchandpur branch manager Bijon Biswas told Bangladesh Post that the number of 10 Taka account holders with his branch was 6,000 till August this year. His branch has so far distributed SME (small and medium enterprise) loan to six persons who opened 10 taka account with the branch.
“Every 10 taka account holder has been doing well and playing positive role to maintain their families with the profit from their respective business. They are also sincere in repaying installments of their loan,” Bijon Bswas said. BKB chief regional manager (CRM) office sources said the BKB has been providing services to people through three branches in Jhenidah Sadar, one in Kaliganj, one in Harinakundu, one in Moheshpur, four in Shailkupa and one branch in Kotchandpur upazila of Jhenidah.
As per the instruction of Prime Minister Sheikh Hasina for an “Economically Sound Bangladesh”, Branches of Bangladesh Krishi Bank in Jhenaidah have opened 10-taka account for 81,697 ultra-poor and marginal people of the district. It has been encouraging poor and ultra-poor people for bank transactions as against traditional savings at home in unsafe way.
The BKB had so far disbursed an amount of Taka 56.16 lakh among the account holders in Jhenaidah district. The account holders have been running small business in the locality and managing their families almost well. The support is helping them strengthen their socio-economic state. Following a government initiative to ameliorate financial condition of the ultra-poor and marginal people of the country, in September 2010, Bangladesh Bank instructed public banks to help the ultra-poor open the 10 Taka accounts so that they can get the benefits of the safety net programmes.
The use of the account has helped underprivileged people engage in various economic activities and change their lives. The marginal and landless farmers, small shop owners, hawkers and people affected by river erosion now take loans under a Tk 200-crore refinance scheme of the central bank by using the accounts for an interest rate of 9.5 percent. With the account, a client gets a maximum of Tk 50,000 in credit for a year, with a six-month grace period.
