Vol. 4 Num 213 Wed. December 31, 2003  

Janata Bank cuts interest rates again
Janata Bank has again cut the rates of interest on loans and advances.

The interest rates have been cut to accelerate trade and commerce in the country, says a press release.

The new rates will be effective from January 1, 2004.

Interest rate on all loans and advances has been reduced from 0.50 up to 6 percentage point. The rate of interest has been re-fixed on agriculture loan including Swanirvar and poverty alleviation, special credit and micro credit at 10 per cent, large and medium-term industries loan and working capital loan at 11 per cent, export credit at 7-9 per cent, small and cottage industries at 10 per cent, and other credits at 10-12 per cent.

This reduction of interest rates will accelerate the flow of investment, expand agro-based industries and develop trade and commerce.