What are the exceptional cases where bank can reschedule loan without obtaining down payment from the customer of Bangladesh?

Answer:

a) If a loan account of an export-oriented garments industry or knit garments factory becomes adversely classified due to stock lot, the loan may be rescheduled without the required down payment.  Conditions for the said rescheduling as under:

·    The sales/export proceeds from the stock lot must be used to repay the loan.

·    If any such loan account remains unadjusted even after repaying the loan with sales/export proceeds of the stock lot, the loan may be rescheduled without the required down payment based on recovery probability and banker-customer relationship.

·    The above mentioned facilities will not be applicable to forced loan, project loan or term loan in this sector. Only such forced loans, which are backed up with stock lot may avail such facilities.

·    After rescheduling, new loan facility or loan expansion application will be considered only after paying at least 7.5% of the “Outstanding Balance”.

·    New loan facility from other banks is subject to the obtaining of NOC from the rescheduling bank.

b) If a loan account of fertilizer importers becomes adversely classified due to delay in government subsidy receipts and payment of subsidy bill, the loan may be rescheduled without the required down payment. Conditions for said rescheduling as under:

·   The receivable government subsidy must be used to repay the loan.

·   If any such loan account remained unadjusted even after repaying the loan with a government subsidy, the loan may be rescheduled without the required down payment on the basis of recovery probability and banker-customer relationship.