Regulatory Alerts2017-08-22
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BRPD Circular No. 13: Rescheduling of Short Term Agricultural & Micro Credit and Cottage & Micro Credit of SME Sector Affected by Recent Flood
The document authorizes scheduled banks in Bangladesh to reschedule short-term agricultural and micro credit, as well as cottage and micro credit for the SME sector, for borrowers affected by recent floods. Banks may relax down-payment requirements, provide a grace period of up to six months, and issue new loans without requiring collateral deposits, provided any litigation is stayed or settled via compromise. These measures are effective immediately and remain valid until June 30, 2018.
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