Rescheduled
loans may be put into any category of classification by the bank considering
the existing financial soundness and repayment capacity of the borrower,
subject to the accumulated amount in interest suspense account not being taken
into income account, unless actually realized. Upon classification, applicable
provisions have to be maintained, according to the Master Circular: Loan Classification
and Provisioning (BRPD Circular No. 14/2012). These classifications will be
reviewed by Bangladesh Bank inspectors. However, regardless of the
classification category into which the loan is placed by the bank, a
rescheduled loan will not be considered a "defaulted loan," and the
borrower will not be considered a "defaulted borrower" as these terms
are understood in the context of section 27KaKa(3) [read with section 5(GaGa)]
of the Banking Companies Act, 1991, unless such loan has not been repaid after
reaching the maximum number of allowable reschedulings. Interest accrued on
rescheduled loans will be subject to the accounting treatment that is
appropriate for the classification category of the loan, in line with the
Master Circular: Loan Classification and Provisioning (BRPD Circular No.
14/2012) just as if the loan had not been rescheduled.
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ONE Bank Ltd. Restored Salary of Employees effective from 1st January 2021
Salary/Benefits of ONE Bank Ltd. reverted back to its original amount before cutting the salary benefit in the year 2020. Due adverse affect...
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