Loan regularisation deadline extended
Economy
Bangladesh Bank (BB) on Thursday extended the deadline for applying for regularising loans under the widely criticised special policy on loan rescheduling and one-time exit.
According to a BB circular, the deadline which expired on August 16 has been extended to September 7 for defaulters to avail the rescheduling facility.
Earlier on May 16, the central bank had issued a circular on special loan rescheduling policy allowing defaulters to regularise loans for 10 years with 2 percent down payment instead of existing 10-15 percent rate.
Loan defaulters were asked to apply under the policy within 90 days from the issuance of the circular.
On May 21, the High Court issued a status quo until June 24 on the central bank’s May 16 circular following a writ petition filed by the Human Rights and Peace for Bangladesh.
On July 3, Chamber Judge of the Appellate Division stayed the High Court order until July 8 and sent it to the SC full bench.
On July 8, the Supreme Court extended for two months its stay on the HC order that halted the BB circular.
The apex court, however, imposed a condition that the loan defaulters would not be allowed to get further loans by depositing 2 percent down payment of the total loan amount.
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