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 : 03 Nov 2019, 04:33 PM
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.