The target of defaulting on debt has been reduced

loans

Debt borrowing by state-owned banks is not satisfactory. Except for the two banks, the amount of defaulted loans from other banks is described as ‘below current standards’, according to a report by the Finance Ministry’s Financial Institutions Division.

Banks have been instructed to be more diligent in the disbursement of defaulted loans.

In this situation, six state-owned banks have been given a target of lending less than Tk 120 crore in the current financial year. During the current financial year, the state-owned banks have been asked to collect Rs. In the last financial year, the target was Tk. Due to the failure of the banks, the target has been reduced this time. This year’s target is to collect Tk 2,000 crore from classified loans and Tk 12 crore from defaulted loans.

The Financial Institution Department has set this target of obtaining defaulted loans under the ‘Annual Performance Contract’ recently signed with the banks. According to sources, six state-owned commercial banks – Sonali, Janata, Agrani, Rupali, Basic and BDBL could not meet the target of disbursement of loans in the last 20-20 fiscal. Except for two banks, banks are not satisfied with the amount of defaulted loans ‘below current standards’.

In the last financial year, the target of collecting defaulted loans of six commercial banks was Tk. Of these, the target of collecting classified loans was Tk. 5 crore and the target of recovering unpaid loans was Tk. 5 crore. But the banks have collected classified loans of Tk 5,8 crore and the undeveloped loan is about Tk 1 crore.

According to the target of this time, Sonali Bank will have to collect Tk. Of this, Tk 5 crore will be recovered from classified loans and Tk 20 crore from under-debated loans. In the last financial year, the target of defaulting on the bank was Tk. The bank has earned Tk 5 crore.

In the current financial year, Janata Bank will have to collect Tk 1 crore from the classified loan and Tk 1 crore from the defaulted loan. In the last financial year, the target of collecting defaulted loans of the bank was Tk 1 crore. The bank has earned Tk 5 crore. Of this, only 20 million have been collected from the unallocated loan.

Agri Bank has been given a target of earning Tk 5 crore. Of this, 1 crore should be collected from the classified loan and 5 crores from the unallocated loan. In the last financial year, the target of collecting defaulted loans of the bank was Tk 1 crore. The bank has earned Tk 5 crore.

Rupali Bank has been given a target of earning Tk 20 crore. Of this, Tk 20 crore will be recovered from classified loans and Tk 5 crore from defaulted loans. In the last financial year, the bank had a target of collecting total defaulted loans of Tk. The bank has collected Tk.

In the current financial year, Basic Bank has been given a target of collecting Tk 5 crore in debt. Of this, 1 crore should be collected from the classified loan and 2 crores from the unallocated loan. The target of the bank was Tk 5 crore in the last financial year. The bank has been able to collect Tk.

BDBL Bank has been given a target of Tk 5 crore in the current financial year. The bank will have to collect Tk 5 crore from classified loans and Tk 5 crore from unsecured loans. The target of the bank was Tk 120 crore in the last financial year. The bank has collected Tk.

Sources in the financial institutions’ department said that under the annual performance agreement, the performance of state-owned banks was evaluated for several years. This assessment is done every three months. The financial institutions’ department will evaluate the target given to the banks next month. Then you can review how much progress has been made towards defaulting on the debt.

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Author: Staf reporterR

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