Staff Correspondent, bdnews24.com
Published: 2019-05-21 14:20:19 BdST
A bench of the court passed the order on Tuesday in repose to a petition filed by lawyer Manzill Murshid.
A maximum 9 percent interest will be charged on the rescheduled loans and the tenure for the repayment is 10 years with a grace period of one year, according to the circular.
Under the existing policy, the defaulters can reschedule their classified loans by making a down payment of 10-50 percent.
“The central bank’s new policy will encourage the bank defaulters and subsequently the commercial banks will suffer a financial crisis. That’s why we filed a petition with the court seeking to stop the implementation of the circular,” the lawyer told reporters.