Regulatory Alerts2009-12-10
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BRPD Circular Letter No. 09: Policy for Rescheduling of Loans
The document clarifies that short-term agricultural loans are eligible for rescheduling with a down payment applied at the rate applicable to medium-term loans, as defined in Section 1.02 of BRPD Circular No. 01/2003. This directive addresses recent ambiguities among scheduled banks regarding the rescheduling of short-term agricultural credit. It mandates the application of specific down payment rates to these loans in accordance with existing circular provisions.
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Banking Regulation and Policy Department Bangladesh Bank Head Office Dhaka.
BRPD Circular Letter No. 09 Date: December 10, 2009 Aghahayan 26, 1416
Managing Director / Chief Executive All Scheduled Banks Operating in Bangladesh
Dear Sir,
Regarding the Policy for Rescheduling of Loans.
Reference is drawn to your attention to BRPD Circular No. 01 issued on January 13, 2003, on the subject cited above.
It has recently been observed that there is ambiguity among banks regarding the rescheduling of short-term agricultural loans. In this regard, it is mentioned that under the regulations applicable to medium-term loans, opportunities exist for the rescheduling of agricultural loans by paying a down payment at the rate applicable to medium-term loans.
In this situation, short-term agricultural loans will be rescheduled by applying the down payment rate in accordance with Section 1.02 of BRPD Circular No. 01/2003.
Please acknowledge receipt.
Yours faithfully,
(Abu Hena Mohammad Rajee Hasan) Deputy General Manager Phone: 7117825
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