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Loan disbursement from the stimulus package dedicated to cottage, micro, small and medium enterprises was far below the mark, but, yet, midsize ones made the most out of it for their closer kinship with the formal banking channel. Businesses minors in the beneficiary group were just lookers-on. Such a picture of the stimulus handouts came out of the latest circular issued by the central bank of Bangladesh. In the latest notification, the Bangladesh Bank further eased some rules related to the implementation of the stimulus package meant for the cottage-micro-small section. To ensure access for the small firms, the Bangladesh Bank in the latest notification ordered the banks for 70 percent disbursement for them and only 30 per cent for the medians.

= প্রণোদানা প্যাকেজের আওতায় কুটির, ক্ষুদ্র, ছোট এবং মাঝারি শিল্পগুলিতে ঋণ বিতরণের হার আশানুরূপ হয়নি, কিন্তু ব্যাংকিং খাতের সাথে খুব সম্পর্ক থাকায় মাঝারি মানের শিল্পগুলিতে অধিকাংশ ঋণ বিতরণ সম্পন্ন হয়। সুবিধাভোগী ক্ষুদ্র ব্যবসায় প্রতিষ্ঠানগুলি শুধু দর্শকের ভূমিকা পালন করেছে। প্রণোদনা প্যাকেজের এরকম একটি চিত্র বাংলাদেশের কেন্দ্রীয় ব্যাংকের সম্প্রতি জারি করা একটি বিলিপত্রে দেখা গিয়েছে। সম্প্রতি করা কেন্দ্রীয় ব্যাংকের বিজ্ঞপ্তিতে ক্ষুদ্র-কুটির শিল্পের ক্ষেত্রে এই প্রণোদনা প্যাকেজ বাস্তবায়নের ব্যাপারে নীতিমালা আরো সহজ করা হয়েছে। ক্ষুদ্র শিল্পগুলিতে এই সুযোগ প্রাপ্তি নিশ্চিতের জন্য বাংলাদেশ ব্যাংকের নতুন বিজ্ঞপ্তিতে ঋণ বন্টনের ক্ষেত্রে ৭০% ক্ষুদ্র কুটির শিল্পে আর মাত্র ৩০% মাঝারি শিল্পে বিতরণের কথা বলা হয়েছে।

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Read the following passage carefully and answer the questions given below.The Italian banking system became the model for those North European nations that would achieve the greatest commercial success in the coming centuries, notably the Dutch, the English, and the Swedes. It was in Amsterdam, London and Stockholm that the next decisive wave of financial or innovation occurred, as the forerunners of modern central banks made their first appearance. The seventeenth century saw the foundation of three distinctly novel institutions that, in their differen in ways, were intended to serve a public as well as a private financial function. The Amsterdam Exchange Bank, i.e. the Wisselbank, was set up in 1609 to resolve the practical problems created for merchants by the circulation of multiple currencies in the United Provinces, where there were no fewer than fourteen different mints and copious quantities of foreign coins. By allowing merchants to set up accounts denominated in a standardized currency, the Exchange Bank pioneered the system of cheques and direct debits or transfers that we take for granted today. This allowed more and more commercial transactions to take place without the need for the sums involved to materialize in actual coins. Financial historians disagree as to how far the growth of banking after the seventeenth century can be credited with the acceleration of economic growth that began in Britain in the late eighteenth 20 5 century and then spread to Western Europe, North America and Australasia. But banks played a more important role in continental European industrialization than they did in England's.a) Where did the precursors of modern central banks make their first appearance? b) What practical problem was the Wisselbank required to resolve in its initial days?c) How did the Amsterdam Exchange Bank respond to the demand of the age? d) What are the points of disagreement among the financial historians with respect to growth of banking vis-a-vis growth of economy? e) Choose a suitable title for above composition.
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Write a precis of the following paragraph and provide a title:The stated intention of most regulators is to maintain stability within the financial services sector, thereby protecting the consumers whom banks serve and the 'real' economy which the industry supports. Every shock to the financial system must result in casualties. Left to itself, natural selection should work fast to eliminate the weakest institution in the market, which typically are gobbled up by the successful. But most crises also usher in new rules and regulations, as legislators and regulators rush to stabilize the financial system and to protect consumers who are also voters. The critical point is that the possibility of extinction cannot and should not be removed by excessively precautionary rules. As Joseph Schumpeter wrote more than seventy years ago, 'This economic system cannot do without the ultima ratio of the complete destruction of those existences which are irretrievably associated with the hopelessly unadapted.' This meant, in his view, nothing less than the disappearance of 'those firms which are unfit to live'. It remains to be seen whether the extraordinary measures taken by Western governments since September 2008 will have the desired effect of preventing complete breakdown of the financial system or whether they will in fact end up impeding the process of financial evolution.
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One of the major components of inclusive rural transformation includes financial inclusion. But focus on access to financial services is insufficient. Widespread access to efficient and sustainable financial services and capital, without which the benefits of the rural transformation cannot be fully realized is now common felt need. This requires a significant expansion of financial resources and budgets, as well as major improvements in the efficiency and institutional sustainability of rural financial systems. Access to finance is essential for promoting inclusive economic growth and reducing the level of poverty in a country. World Bank defines financial inclusion as access to a full range of affordable formal financial products and services, delivered responsibly by sustainable institutions. Around two billion adults worldwide do not have financial account and many small businesses cannot access the financial instruments they need. Financial inclusion is now explicitly recognized in various sustainable Development Goals of the United Nations. (Translate from English to Bangla)
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It is not clear that the current global regulatory reform initiatives will be enough to dissuade banks and financial institutions from risky speculative behavior that lead to recurrent instability. A fundamental reorientation of their corporate goals and objectives towards conducting business in socially responsible manner is perhaps needed for this. Only such a basic reorientation can perhaps draw them away lastingly from socially harmful unproductive speculative investments towards inclusive financing of productive, pursuits of all population segments in all economic sectors; harnessing and fostering creative energies of the entire working age population. Already growing in sidelines in many developing and developed economies, this socially responsible inclusive financing orientation has been chosen by Bangladesh Bank as the mainstream approach for the financial sector in Bangladesh. Initial results look promising. (Translate into Bangla)
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