Regulatory Alerts2010-12-02
Added · Updated
ACD Circular No. 16: Relaxation of CIB Inquiry and Reporting Requirements for Short-Term Agricultural Credit up to Tk 1.50 Lakh for Crop Cultivation
The circular relaxes the requirement for banks to conduct Credit Information Bureau (CIB) inquiries and submit CIB reports when disbursing short-term agricultural credit of up to Tk 1.50 lakh solely for crop cultivation. This relaxation applies to all scheduled banks to ensure timely and prompt delivery of agricultural loans to farmers. The directive explicitly maintains the existing requirement for obtaining no-objection certificates from other bank branches in a specific union under the Lead Bank system to prevent defaulters from accessing new credit facilities. The instructions are effective immediately.
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