The
Chief Executives,
All Banks/DFIs
Dear
Sirs/Madam,
TREATMENT
OF THE LOANS CONTRACTED BEFORE THE ISSUE
OF NEW PRUDENTIAL REGULATIONS - REGULATION R-1 & R-5
Please
refer to the Prudential Regulations issued vide BPD Circular
No.35 dated 28th October, 2003.
2.
The following clarification may be noted regarding Prudential
Regulation R-1 and R-5,
“All loans contracted before the issue of
new Prudential Regulations i.e. October 28th, 2003, will
be subject to the old Prudential Regulations till the date
of their liquidation or renewal whichever occurs first.”
3. All other instructions on the subject shall, however,
remain unchanged.
4. Please acknowledge receipt.