Regulatory Alerts2023-03-28
Added
SMESPD Circular Letter No. 05: Temporary Relaxation of CMSME Sector wise Loan/ Investment Disbursement and Scheduling of Recovery of Installments against Pre-Financing Scheme
The document temporarily relaxes the disbursement distribution ratios for production, service, and business sectors under the 25,000 crore Taka pre-financing scheme, allowing banks to lend according to customer demand until June 30, 2024. It also modifies the repayment schedule for pre-financed loans, requiring term loans to be repaid in quarterly installments with interest over five years including a six-month grace period, and working capital loans to be repaid in a single lump sum with interest every 12 months. These instructions are issued under the powers granted by Section 45 of the Bank Company Act, 1991, and Section 18 of the Financial Institutions Act, 1993, and take immediate effect.
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