Defaulter if loan unpaid for 90 days: BB

Bangladesh Bank (BB) has taken initiatives in lending activities in line with international standards.

For all types of loans, if the amount is not paid on the last day of instalment payment, the loan must be marked overdue from the next day.

Besides, overdue loans will be categorised based on the delay period: three to six months as ‘low quality,’ six to 12 months as ‘suspicious’, and 12 months or more as ‘bad’ or ‘default.’

The central bank announced the latest policy yesterday (Wednesday), which will be effective from April next year.

BB issued a notification in this regard and sent it to all scheduled banks in the country.