2024-09-02 14:20:23
Published: 10:23, 2 September 2024 Updated: 10:27, 2 September 2024
Bangladesh Bank has given special facility to flood affected farmers and CMSME entrepreneurs to pay the loan installments. Affected borrowers in the short-term agriculture and small, cottage and medium industries-CMSME sectors in flood-affected areas will be able to repay the August installment after three months.
Instructions in this regard were issued from the Banking Regulations and Policy Department of Bangladesh Bank.
The directive issued on Sunday (September 1) said borrowers affected by the recent floods are finding it difficult to repay or adjust their loans. In order to continue the normal economic activities of the affected borrowers, it has been asked to ease the repayment or adjustment of the existing unclassified (not compensation) short-term agriculture and CMSME loans as of July 1 in other flood-affected areas identified by the Ministry of Disaster Management and Relief, including Feni, Noakhali, Lakshmipur, Comilla and Chittagong.
Short-term agriculture and CMSME sector borrowers can repay the loan installments for the month of August to October within three months of the expiry of the respective loan period.
It has been asked to extend the adjustment period of all the loans of CMSME sector which are adjustable between August 2024 and October 2024 by three months.
No penalty interest, additional interest, excess profit, late fee penalty (by whatever name called) other than regular interest shall be levied or imposed on late payment. This directive will be effective immediately.
NF/EVA