• Tuesday, Jun 18, 2019
  • Last Update : 05:29 am

Banks asked to postpone crop loan recovery for one year

  • Published at 09:46 pm May 19th, 2019
WEB__1200px-বাংলাদেশ_ব্যাংকের_প্রতীক

The central bank issued the directive in a circular sent to CEOs and managing directors of scheduled banks on the day

Bangladesh Bank on Sunday asked commercial banks to postpone recovery of agricultural loans for one year as part of agricultural sector rehabilitation in the wake of cyclone Fani. 

The central bank issued the directive in a circular sent to CEOs and managing directors of scheduled banks on the day. 

The circular also give directives so that the farmers get loan rescheduling without down payment and agricultural loan disbursement be enhanced in the affected areas. It directs waiver for the affected farmers.

Recently, due to cyclone Fani, crops in many districts of the country (Mymensingh, Sherpur, Jamalpur, Netrakona, Laxmipur, Bogra, Joypurhat, Satkhira, Narail, Chuadanga, Madaripur, Barisal, Bhola, Patuakhali, Jhalakati, Pirojpur, Barguna, Bagerhat, Khulna) were damaged, it mentioned. 

The directives will be effective immediately.