Home Today's Paper Most Popular Video Gallery Photo Gallery
Subscription Blog Signin Register
Logo
Sunday, October 20, 2019 10:20:47 AM
Follow Us On: Facebook Twitter Twitter Twitter Twitter

HC status-quo on BB circular

Defaulters won't get loan rescheduling privileges

By
22nd-May-2019       
Comments
Share your thought
Post a comment »
Read all () »

Staff Reporter :
The High Court (HC) on Tuesday halted the privilege of loan defaulters to reschedule their outstanding loans by giving a 2 per cent down payment until June 24.
The court issued a status-quo on the Bangladesh Bank circular that allowed defaulters to reschedule their bank loans and get further loan via this method.
The HC Bench of Justice F R M Nazmul Ahasan and Justice K M Kamrul Kader passed the order after hearing a writ petition filed by a rights organisation, Human Rights and Peace for Bangladesh (HRPB).
The court observed that Bangladesh Bank gave an opportunity to big loan defaulters through the circular, which creates scope of Tk 1 lakh crore laundering.
 "On the other hand, the central bank is making the genuine businessmen pay 14 to 15 per cent interest, which is a discrimination," it also said in the observation.
It observed that the central bank is yet to execute the Prime Minister's instruction to lower down the interest rate to single digit for bank loans.
Advocate Manzill Murshid appeared in the court on behalf of HRPB, while Advocate Md Moniruzzaman stood for the Bangladesh Bank.
After the court's order, petitioners' lawyer Manzill Murshid told reporters that the defaulters can now no more get their loans rescheduled by paying a 2 per cent down payment.
He said, "We brought the matter to the attention  of the HC on May 16 after knowing through media reports and prayed to the court to stay the notice. Then the court asked the lawyer of the Bangladesh Bank if the notice was issued. They replied to the court that they didn't publish any notice like that."
"That day the court ordered Bangladesh Bank authorities to submit a list of borrowers with more than Tk 1 crore in default loans by June 24. But the central bank uploaded the notice on their website in the afternoon on May 16. We filed a petition on Sunday challenging the notice," said the lawyer.
Advocate Manzill said, "Through the notice the Bangladesh Bank allowing the loan defaulters for further loan by giving a 2 per cent down payment. But by this the backbone of the bank will be broken. So we prayed to the court to stay the effectiveness of the notice till hearing of the case. Then the court issued a status-quo on the Bangladesh Bank notice till June 24."

Tariff
Add Rate

News Archive

Inside The New Nation

Editorial »

Default loans pose risk, economic sector needs overhauling


THE International Monetary Fund on Friday said the rising defaults on loans poses the biggest risk for the Bangladesh economy that stands to grow at a remarkable pace. As of June, the total defaulted loan in the banking sector was Tk 1,12,425 crore, up 19.71 percent from December last year, ...

Football »

Bulgaria coach quits after racism row at England match


Bulgaria's coach quit Friday over the 6-0 loss to England in a Euro 2020 qualifier which was overshadowed by racist abuse that sparked a storm of protest.Monkey chants and apparent Nazi salutes during Monday's match in Sofia caused indignation in the football world and led to the resignation of Bulgaria's ...

City »

Emeritus Professor Sirajul Islam Chowdhury along with other distinguished persons at a memorial meeting on Dr Mizanur Rahman Shelley organised by Academic Press and Publishers Library at the Jatiya Press Club on Saturday.


International »

Some worries about nuclear weapons at Turkey base


AP, Washington  :Frayed U.S. relations with Turkey over its incursion in Syria raise a sensitive question rarely discussed in public: Should the United States remove the nuclear bombs it has long stored at a Turkish air base?It's a tricky matter for several reasons, including the fact that by longstanding policy, ...

International »

Last Soviet leader Gorbachev urges Russia, US to hold nuclear talks


Reuters, Moscow :Mikhail Gorbachev, the last Soviet leader, warned on Friday that the world was drifting into a dangerous era of militarised politics and appealed to Moscow and Washington to sit down for urgent nuclear arms control talks.Gorbachev, whose 1980s arms control push and democracy-oriented reforms helped end the Cold ...

Entertainment »

Sara Ali Khan has sweetest wish for her first friend


Sara Ali Khan might be just two films old in the industry but her popularity is great among the youth. Thanks to the success of her second film, Simmba, and her upcoming film #Aajkal. But apart from that she's popular for her chic style too. While we all know about ...

Editorial »

Monitoring must to prevent fatal gas cylinder blasts


THREE of a family died and three others were injured on their way home from hospital as the gas cylinder of an ambulance exploded in Chattogram's Anwara upazila on Thursday. The deceased were identified as Mafij Uddin, 65, his daughter-in-laws Babul Akter, 33, and Jainab Begum, 38, police said. Mafij's ...

Sports »

Chinese gymnast Chen Yile poses for photos after getting the ANOC award for Best Female Athlete of Asian Games 2018 during awarding ceremony of the ANOC Awards 2019 at the XXIV ANOC General Assembly Qatar 2019 in Doha, capital of Qatar on Thursday.


.

Entertainment »

Vidya honoured in London


Vidya Balan, who is currently stationed in London shooting for her highly-anticipated movie Shakuntala Devi - Human Computer, was recently invited by Imperial College to address the students who idolises the powerhouse performer for her exemplary body of work and for being one of the finest actors of Hindi film ...

Editorial »

Tackle urban poverty with well-designed safety nets


A WORLD Bank report stated that most of the urban poor are deprived of the government's social protection benefits. There is a large gap in allocation under social safety net, though the pace of poverty reduction has slowed and the ratio of extreme poverty edged up in urban areas after ...

Cricket »

Tamim Iqbal unlikely in T20 series in India


Bangladesh Opener Tamim Iqbal's return to International cricket is likely to be delayed as he suffered a muscle strain on the right side of the rib.The injury also forced him to sit out from the second round of the National Cricket League (NCL) in which his side Chattogram Division is ...

Entertainment »

Bindu Kona’s Krishna Leela


Sheikh Arif Bulbon :Among the present generation’s singers, Bindu Kona has been entertaining the hearts of many music-lovers by virtue of her melodious voice and stage performances. It is said that when Bindu Kona gets microphone on her hand on the stage, she becomes a different ‘Bindu Kona.’ While performing ...

International »

HK lawmakers dragged from chamber as leader heckled for second day


AFP, Hong Kong :Pro-democracy lawmakers were dragged out of Hong Kong's legislature by security guards on Thursday after they heckled the city's pro-Beijing leader for a second day running, the latest outburst of political rancour in the strife-torn city.Chief Executive Carrie Lam has faced an outpouring of anger from her ...

International »

Diplomatic stalemate fuels dangerous Saudi-Iran standoff


AFP, Abu Dhabi :The dangerous rivalry between Saudi Arabia and Iran, played out in proxy wars and mystery strikes, is destined to fester as long as neither reaches across the gulf that divides them, observers say.At the Beirut Institute Summit in the United Arab Emirates this week, heated sessions dominated ...

City »

Jatiyatabadi Chhatra Dal brought out a silent procession on Dhaka University campus on Thursday demanding trial of killers of Abrar Fahad and release of BNP Chief Begum Khaleda Zia.


 
Items that you save may be read at any time on your computer, iPad, iPhone or Android devices.
 
Are you new to our website? Do you have already an account at our website?
Create An Account Log in here
Email this news to a friend or like someone
Email:
Write a comment to this news