Loans, bills repayment until Nov 13
Tuesday, 11 November 2008
FE Report
Both loan and utility bill defaulters get three days more for repaying and rescheduling of their dues following the amendment of the existing Representation of the People Order (RPO) by the government.
The council of advisers of the caretaker government Sunday gave approval to the amendments of the RPO, reducing the timeframe for clearing bank loans and outstanding utility bills by candidate aspirants from the existing 15 days to seven days from the submission of nominations papers.
The central bank has asked the banks and non-banking financial institutions (NBFIs) to submit updated information about default loans until November 13 in line with the government's latest decisions.
"We've asked the banks and NBFIs to submit information about default loans very quickly and carefully to update the list of defaulters," a senior official of the Bangladesh Bank (BB) told the FE Monday.
On Saturday, the commercial banks and NBFIs provided their updated information about default loans as on October 30 to the central bank.
The central bank took the move to provide default loans information to the returning officers for checking loans status of the aspirant candidates for the upcoming parliament and upazila elections in line with the Election Commission (EC) advice.
The BB official also said the central bank has also asked the banks and NBFIs to mention names of both fathers and mothers in their reports to help the authorities scrutinise the nomination papers to be submitted by the prospective candidates.
Under the new deadline, the last date for filing of nomination papers for both elections has been re-fixed on November 20 instead of November 13.
Meanwhile, EC Secretary M Humaun Kabir told reporters Monday that those who would submit nomination papers on November 20 would have to clear their loans and bills by November 13 as per the latest amendment to the RPO.
Under the amended RPO, any person willing to contest the elections requires paying his or her default loan and utility bills seven days before the submission of nomination paper.
On the other hand, the commercial banks and NBFIs are now preparing updated information about the loan defaulters as per the EC advice, a senior official of a state-owned commercial bank told the FE.
He also said the commercial banks have participated in preparing the list of defaulters directly for the first time.
Both loan and utility bill defaulters get three days more for repaying and rescheduling of their dues following the amendment of the existing Representation of the People Order (RPO) by the government.
The council of advisers of the caretaker government Sunday gave approval to the amendments of the RPO, reducing the timeframe for clearing bank loans and outstanding utility bills by candidate aspirants from the existing 15 days to seven days from the submission of nominations papers.
The central bank has asked the banks and non-banking financial institutions (NBFIs) to submit updated information about default loans until November 13 in line with the government's latest decisions.
"We've asked the banks and NBFIs to submit information about default loans very quickly and carefully to update the list of defaulters," a senior official of the Bangladesh Bank (BB) told the FE Monday.
On Saturday, the commercial banks and NBFIs provided their updated information about default loans as on October 30 to the central bank.
The central bank took the move to provide default loans information to the returning officers for checking loans status of the aspirant candidates for the upcoming parliament and upazila elections in line with the Election Commission (EC) advice.
The BB official also said the central bank has also asked the banks and NBFIs to mention names of both fathers and mothers in their reports to help the authorities scrutinise the nomination papers to be submitted by the prospective candidates.
Under the new deadline, the last date for filing of nomination papers for both elections has been re-fixed on November 20 instead of November 13.
Meanwhile, EC Secretary M Humaun Kabir told reporters Monday that those who would submit nomination papers on November 20 would have to clear their loans and bills by November 13 as per the latest amendment to the RPO.
Under the amended RPO, any person willing to contest the elections requires paying his or her default loan and utility bills seven days before the submission of nomination paper.
On the other hand, the commercial banks and NBFIs are now preparing updated information about the loan defaulters as per the EC advice, a senior official of a state-owned commercial bank told the FE.
He also said the commercial banks have participated in preparing the list of defaulters directly for the first time.