BB relaxes loan rules for flood-hit farmers
Staff Reporter :
Bangladesh Bank (BB) has relaxed agro-loan rules and suspended loan recovery for farmers until flood situation is improved.
BB issued a circular in this regard on Wednesday, spelling out a set of measures, including relaxed conditions for down payments in case of rescheduling farm loans to favour the farmers.
Affected borrowers will be allowed to get fresh loans without repaying existing dues. Besides, banks can reschedule loans, even suspend certificate cases if they have to, according to the circular.
Nearly 70,000 hectors of farmland are reported to be damaged from flooding so far this year causing losses of standing food crops in affected districts, according to an official estimate.
Bangladesh Bank (BB) has relaxed agro-loan rules and suspended loan recovery for farmers until flood situation is improved.
BB issued a circular in this regard on Wednesday, spelling out a set of measures, including relaxed conditions for down payments in case of rescheduling farm loans to favour the farmers.
Affected borrowers will be allowed to get fresh loans without repaying existing dues. Besides, banks can reschedule loans, even suspend certificate cases if they have to, according to the circular.
Nearly 70,000 hectors of farmland are reported to be damaged from flooding so far this year causing losses of standing food crops in affected districts, according to an official estimate.
