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Down payment requirement waived for farm loan rescheduling
Staff Correspondent | Published: 23:06, Jun 01,2021
The Bangladesh Bank on Tuesday allowed banks to reschedule defaulted short-term farm loans without taking any down payment from the farmers.
The central bank issued a circular in this regard on the day as the country’s agriculture sector like the other economic sectors has suffered production and distribution disruption following the outbreak of Covid-19.
As a result, many farmers could not repay loan instalments regularly, said the BB circular, adding that defaulting of the farm loans would make them disqualified for taking fresh bank loans and such a situation might hamper productivity of the agriculture sector as well as on the overall gross domestic product of the country.