BB relaxes loan rules for flood-hit farmers

Bangladesh Bank (BB) has relaxed its loan rescheduling rules and suspended loan recovery in view of the plight of the farmers in the country's flood-hit areas, reports BSS.

The central bank today issued a circular in this regard, including a set of measures favouring the agricultural loan borrowers.

The BB has taken these measures to support the farmers of the districts of the northern part and haor areas, including the districts of Kurigram, Bogra, Gaibandha, Sirajganj, Sherpur, Tangail, Jamalpur, Faridpur, Shariatpur, Rajbari, Madaripur, Manikganj, Munshiganj, Chandpur, Sylhet, Sunamganj and Feni.

According to the circular, banks will disburse new loans considering the reality and demand in the crop, fisheries and livestock sectors for continuing the agro production activities in the flood affected areas.

The recovery of agriculture loan will be suspended until the improvement of the situation and banks will regularize the loan by recovering through easy installments or rescheduling the loan by relaxing the down payment condition.