Circulars/Notifications - Banking Supervision Department  
 BPRD Circular Letter 34
December 13, 2000  

The Chief Executives,

All Banks/NBFIs.

Dear Sirs/ Madam,

RESTRUCTURING/ RESCHEDULING OF NON-PERFORMING LOANS

 

Please refer to BPRD Circular Letter No. 4 dated February 17, 2000 wherein certain conditions were laid down for restructured/ rescheduled loans.

It has been decided with immediate effect that loans granted by the banks/NBFIs under a Government declared policy and especially those recommended by the Committee for Revival of Sick Industrial Units constituted under the Ministry of Finance Notification No. F.6(13)BKG(R&S)/2000-230 dated the 3rd May, 2000 for the purpose of reviving a sick industrial unit will not constitute a part of the outstanding amount of default. In other words while facilities granted to sick industrial units prior to the revival shall retain their existing classification the fresh facilities granted for the purpose may be kept in a separate account and be monitored from the date the new facility was granted to the sick units. These facilities will, however, be subject to the classification of the outstanding under Prudential Regulation-VIII on the strength of their specific terms and conditions.

Other instructions on the subject shall, however, remain unchanged.

Please acknowledge receipt.


Yours faithfully,
(Kazi Abdul Muktadir)
Director

       
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