The amount of defaulted loans in the banking sector till June this year is 1 lakh 25 thousand 257 crore 57 lakh taka. Which was one lakh 13 thousand 441 crores last March.
According to that, 11 thousand 817 crores increased in three months. Along with this, new defaults of 15 thousand 491 crore taka have been added to the old debt till April-June. Out of this, only 3 thousand 858 crores of cash has been collected which is 3.61 percent of the total defaults. This information has come up in the latest report of Bangladesh Bank.
Bankers and economists say there is no punishment or rebuke against defaulters. Conversely, defaulters are rewarded. At that opportunity, someone smuggled by taking a cheap loan. Someone else is in the capital market. Some take loans in one sector and use them in other sectors. This is an ominous signal for the banking sector. If this continues, the situation will worsen in the future.
If asked, the former caretaker government’s finance advisor. AB Mirza Azizul Islam told Jugantar that the money will not be returned if the debtors are given concessions or benefits one by one. Will look forward to more benefits. This is a very normal rule. Because they know the money will continue even if they don’t return it. If not, now the effect of Corona is not as before. Still not giving money why? This proves that no one will want to return the money if they get the facilities again and again. Because the debtors do not have to pay any penalty or fine. On the contrary, the reward is getting. As a result, defaulted loans are increasing.
Senior banker Mohammad Nurul Amin told Jugantar that 15,000 crore new defaults in three months. On the contrary, the cash collection is only 3 thousand 858 crores. This is not a good sign. Basically, by getting a cheap loan, someone smuggled abroad or took a loan for one job and did another job. Enjoyed benefits repeatedly without repaying the loan. Moreover, the definition of who is a willful or involuntary defaulter is yet to be defined. If this continues, the situation is likely to worsen in the September and December quarters.
According to the data of Bangladesh Bank, at the end of last June, the amount of defaulted loans of the banking sector stood at 1 lakh 25 thousand 258 crores. That is 8.96 percent of the disbursed debt till that time. Until last December, the amount of defaulted loans was 1 lakh 3 thousand 274 crores. 21 thousand 984 crores increased in the last 6 months. Apart from this, there are defaulted loans of Rs 45,000 crore. Banks are not able to collect these defaulted loans as expected despite trying various ways including lawsuits.
Bankers said that Bangladesh Bank has been giving various discounts in recent years as a way to reduce defaulted loans. Especially after the start of the impact of Corona, even if no one paid any money in 2020, he was not defaulted. In 2021, an entrepreneur is no longer in default if someone pays 15 percent of the loan amount. Earlier in 2019, huge loans were rescheduled for 10 years with only 2 per cent downpayment under a special arrangement. Earlier, various relaxations were given including restructuring of large sum of Rs 500 crore, rescheduling with special consideration due to political unrest. Due to repeated relaxations, some of the entrepreneurs are chasing benefits more than repaying the loans. And due to these concessions, the real picture of defaulted loans of the banking sector is not reflected.