The IMF projects that consumer prices in the country will rise by 7.9 percent by the end of the fiscal year
HC upholds Bangladesh Bank amnesty for loan defaulters
The High Court has upheld the central bank's amnesty to loan defaulters, allowing them to reschedule classified loans with 2 percent down payment and 9 percent interest over 10 years.
Published : 3 Nov 2019, 11:33 AM
Updated : 3 Nov 2019, 11:42 AM
The court issued the order on Sunday after hearing a writ petition challenging the legality of Bangladesh Bank's circular offering the privilege.
It also ordered the formation of a committee to make recommendations on the matter in view of the purported shortcomings of banks in approving and recovering loans.
The High Court on May 21 had put a freeze on the circular responding to an appeal from the Human Rights and Peace for Bangladesh, a human rights organisation.
The top court subsequently halted the stay order for two months but barred those availing the privilege from borrowing funds from any other bank during that time.
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