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.