The State Bank of Pakistan (SBP) has decided to discontinue the existing twenty three (23) returns as against the newly proposed ten returns that will cater to all the existing needs of agricultural credit data.
The SBP on Friday announced that it has reviewed all the data/ returns being received from banks in Agricultural Credit Department in terms of variables, data dimensions, periodicity, utility, redundancies, etc with a view to rationalise the existing reporting requirements by banks on agricultural finance, in consultation with the stakeholders.
An analysis of such returns revealed certain information in the existing returns as redundant, duplication of some information and a lack of detail in coverage of information on farm and non-farm, crop-wise, holding size, loan size disbursements, etc.
The SBP announced that from July onwards, only ten (10) returns will be required to be submitted to ACD as follows:
ANNEXURE - I: Returns which will be submitted from July, 2007 onwards to the Agricultural Credit Department, as per formats of statements attached.
ANNEXURE - II: Returns which will be discontinued from July, 2007 onwards. Data as of June 30, 2007 shall, however, be reported on the existing formats.
In addition to above, ZTBL and PPCBL will continue to report the position of their borrowings from SBP and Statement of Affairs / Assets & Liabilities as per existing practices. All banks are advised to ensure submission to ACD of returns by 12th of the following month to which the returns relate, in soft as well as hard copy, as per the existing practice.
Comments
Comments are closed for this article.