The amount of defaulted loans of banks is constantly increasing. And the number of cases in the money loan court is also increasing for the recovery of these loans, along with the amount of money that is stuck. At the end of last June, 1 lakh 78 thousand 270 crores of money was stuck in the court case. For this reason, Bangladesh has urged the banks to emphasize on the settlement of the cases filed in the court. On Wednesday, Bangladesh Bank’s Banking Regulations and Policy Department issued a notification in this regard. In that notification, the central bank has instructed the banks to handle the case with maximum preparation.
According to the notification, a separate court has been constituted for speedy disposal of money loan cases. There is a legal obligation to settle the case in accordance with the procedure within the stipulated time. But Bangladesh Bank recently reviewed the judgments and orders of various loan cases and found that the cases are taking much longer than expected to settle. As a result, the interests of both the depositors and the bank are being undermined.
The central bank says that behind the long process in the settlement of the case, there is a lot of negligence in the handling of the bank’s case by all the parties, especially the plaintiff, which is undesirable. In such a situation, with the aim of timely settlement of the pending case in the financial debt court, the case should be handled with maximum preparation by contacting the concerned lawyer.
According to the report of the Central Bank, at the end of June 2023, 1 lakh 78 thousand 270 crore rupees were stuck against 72 thousand 540 pending cases in the finance court. Six months ago, at the end of December, 1 lakh 66 thousand 887 crore rupees were stuck in the money loan court against 72 thousand 189 pending cases.
As a result, the pending cases increased by 371 within six months. Against this, 11 thousand 383 crore rupees have been trapped.