** Both muscle politics and political activist teachers are jointly to be blamed for universities' shameful low ranking ** Buyers flock to Karwan Bazar market in the capital to buy hilsa as the government has imposed a 22-day ban on catching, selling, hoarding and transporting of hilsa from Friday across the country to protect safe spawning of the fish during its peak breeding period. NN photo ** Bangladesh's economy is in quite strong position: PM ** Dengue spreading fast ** Palm oil price down by Tk 8 per litre, sugar price up Tk 6 per kg ** Tangail road crash leaves six dead ** National grid failure Probe on to determine sabotage ** 35 people killed in Thailand mass shooting ** HC cannot pass order in a policy decision matter of the govt : SC rules ** Cricketer Al-Amin claims, he divorces his wife ** The committee must see if efficient people are placed in the power sector to avoid an outage ** Vehicles struggle to ply on Dhaka-Narayanganj Link Road on Wednesday, as rains caused waterlogging in the area. NN photo ** Army personnel working to restore road communication at Sajek union under Baghaichhari Upazila in Rangamati district on Wednesday as heavy rains triggered landslide in the area, disrupting vehicular movement on Sajek-Khagrachhari road. NN photo ** Initiative taken to amend the hundred-year old Railways Act ** Probe body starts work to find out reasons for national grid failure ** Bigo Apps loots Tk 108cr spreading obscenity in Bangladesh ** US announces $625m military aid for Ukraine ** Brunei Sultan likely to visit Dhaka on Oct 13-15 ** Teen stabbed to death at Gopalganj Durga Puja fair ** Country reports 549 new Covid cases, 2 deaths ** 25 dead as bus falls into gorge in India ** Nearly 4000 tourists trapped as heavy rain triggers landslide at Sajek ** Dollar rebounds as global market rally fades ** Govt made money in the name of generating electricity: BNP ** Child labour crushing dreams of Bangladesh children **

Banks reschedule loans worth nearly Tk 6000cr in first 6 months of 2022

21 September 2022

Despite reduced instalment facilities in term loans, banks have rescheduled loans worth Tk5960 crore and waived interest amounting to Tk2816 crore of interest waived in 6 months (January-June), revealed latest data of Bangladesh Bank (BB).
According to the BB data, state-owned banks rescheduled loans worth Tk 1,300 crore, while private banks Tk 4,150 crore. The remaining Tk 779 crore has been rescheduled  by specialized banks.
The BB introduced a loan moratorium and reduced instalment facility during the Covid pandemic to avert huge defaults as the businesses were affected by the adverse impact of the Covid-19 pandemic.
Despite those moves, the accumulated default loans rose to Tk1.25 lakh crore till June this year. The banks had to reschedule around Tk5960 crore, posing a challenge to the sector.
Bankers said many small and big businesses have been affected due to the pandemic. Many have halted regular loan repayments, raising the issue of the pandemic. Some banks are not able to collect the loan repayments due to irregularities and corruption.
As a result, the default loan volume is increasing, and now stands at around 9 per cent of the country's total disbursement of loans.

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