Regulatory Alerts2020-05-12
Added · Updated
SMESPD Circular Letter No. 03: Special Working Capital facility for CMSME sector under Financial Incentive package-TK 20,000 Crore
The document waives the mandatory requirement for borrowers to obtain a minimum rating from the Credit Information Bureau Limited (CIB) when applying for loans or investment facilities under the TK 20,000 Crore Financial Incentive Package for the CMSME sector, citing disruptions caused by the COVID-19 pandemic. Banks are authorized to provide these facilities without CIB ratings but must select customers based on their own internal policies and risk analysis regarding the bank-client relationship. The circular maintains existing exclusions, prohibiting defaulters and entities whose loans have been restructured more than three times after being classified as substandard or below from accessing this package.