In addition, the remaining half installments will have to be paid within one year after the maturity of the loan, reads the circular.
As per an earlier Bangladesh Bank order issued in June, borrowers were required to pay at least 75 per cent of their loan installments by December to avoid becoming defaulters.
In the circular, the central bank argued that it decided to relax the repayment of the loan schedule as the real income of borrowers declined significantly due to a sharp increase in the production cost of industries, which was “a reflection of the negative effects of prolonged war”. stemmed from. world.”