Committee Formed for Restructuring Large Defaulted Loans Over a thousand applications submitted, but none finalized yet

Bangladesh Bank formed a selection committee to restructure (reschedule) large loans where borrowers are not willful defaulters. Since the committee’s formation on January 30, over a thousand applications have been received. However, after verification and scrutiny, not a single application has been finally settled yet. As a result, defaulted loans in the banking sector are not decreasing but increasing, while the plight of defaulted entrepreneurs is worsening.