Bangladesh Bank has issued a set of policies for rescheduling agriculture loans, aiming at easing the conditions and the process of paying bank the outstanding loans and obtaining fresh credit by the farmers, reports BSS. “Considering the significant contribution of the farmers to the economic growth and attaining sustainability in the agriculture sector, the central bank has taken some decisions to help implement the farmer-friendly policy of the government and recover the outstanding farm loans”, BB said in a circular, issued to all banks on Monday.
The central bank instructed all banks to reschedule outstanding agriculture loans on the basis of the bank-client relationship. In some special cases, the loan rescheduling could be allowed without any down payment.
BB said the banks could also disburse fresh loans to the farmers after rescheduling the outstanding credits, and the fresh loans would not require any down payment.