Draft a circular to branch managers urging them to take appropriate measures to recover long-due agricultural loans

Q. Draft a circular to branch managers urging them to take appropriate measures to recover long-due agricultural loans.

Pubali Bank Ltd.

Head Office

Loans and Advances Division

Rural Credit Department

Dilkhusha Commercial Area

Dhaka 1000

Telephone: 712 50034 Fax: 712 50035

Email: pubaliruralho@pubalibank.com

RCD Circular No. 364-08/09 dated Thursday, May 21, 2009

SUB: MEASURES FOR RECOVERING LONG-DUE AGRICULTURAL LOANS

Please refer to relevant references, vide our circular numbers: 364-01, 364-02, 364-03, 364-04, 364-05, 364-06 and 364-07 wherein it is clearly stipulated how and when disbursed agricultural loans, especially crop loans, have to recovered and rescheduled. Head Office management has repeatedly instructed our field offices to watch whether the small loans are being serviced properly or not.

But, statistics emanating from field offices transpire that agricultural loans are getting time-barred at an alarming rate and the managers of rural branches are not at all careful about timely servicing of the loans and proper notices are not being served to defaulting agricultural borrowers.

Our field offices, especially managers of our rural branches, are hereby advised to enlist the updated lists of defaulters and send final notices to the concerned borrowers for repaying their over-due loans by 07 June 2009. Field offices are advised to institute certificate cases against the defaulters after complying necessary formalities.

If any branch is found having more than 10 percent of non-performing agricultural loans stern administrative actions will be taken against the concerned managers and field officials.

All employees are required to read this circular and put their signatures on the blank

spaces of this notification.

Md. Salimullah

Deputy General Manager

Copies for information and necessary actions to:

All concerned in Head Office, Regional Offices and Branch Offices.