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a) to the submission of a NOC from

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a)                  
The borrower whose credit facility has
been rescheduled may avail a new loan facility or enhance existing credit
facility subject to fulfillment of the following condition :-

i.                   
The borrower must pay at least 15% of the
“Outstanding Balance” (outstanding amount after excluding the down payment on
rescheduling) to avail any further credit facility from the rescheduling bank.

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ii.                 
In case of borrowing from other banks, the
same rule will be applicable, i.e. the borrower must pay at least 15% of the
“Outstanding Balance” (outstanding amount after excluding the down payment on
rescheduling), then, will be allowed to take regular facility from other banks
subject to the submission of No Objection Certificate (NOC) from the
rescheduling bank or financial institution.

 

b)                 
Exporters may be granted further credit
facility (after being identified as not-a-willful defaulter), if required,
subject to setting at least 7.5% of the 
“Outstanding Balance” (outstanding amount after excluding the down
payment on rescheduling). They will be allowed to take the regular facility
from other Banks subject to the submission of a NOC from the rescheduling bank
or financial institution.

c)                  
Prior approval of Bangladesh Bank shall
have to be obtained if the loan is related to the director of any bank.

d)                 
Information on such rescheduled loan
accounts shall be reported to the Credit Information Bureau (CIB) of Bangladesh
Bank.

e)                  
While reporting to the CIB, the
rescheduled loans/advances should be shown as RS-1 for first time rescheduling,
RS-2 for second time rescheduling and RS-3 for third time rescheduling. If
rescheduling facility is availed through interest waiver, reporting should be
RSIW-I for first time rescheduling, RSIW-2 for second time rescheduling, RSIW-3
for third time rescheduling.

f)                  
Number of rescheduling should be mentioned
in the sanction letter as well as in the date column of  sanction/last renewal/rescheduling in the
basic CL form as RS-1/RS-2/RS-3 or RSIW-1/RSIW-2/RSIW-3.

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