Bank borrowers can repay their loans by June 30 instead of the earlier deadline of March 31 without being defaulters, said a Bangladesh Bank circular.
The measure was taken considering the ongoing pandemic's negative impact on Bangladesh's economy, said the circular issued on Tuesday, reports UNB.
In the existing situation, those who will face trouble in repaying their loan instalments by March 2021, can make their repayments by June 30 on the basis of bank-client relation.
“In this case, their loans would not be classified,” it said, adding other policies will remain applicable in case of calculating the loans, lease, interest on advances and profits while no penalty interest or extra fees will be charged.