The eight state-owned banks are considering revealing the names of top loan defaulters by publishing advertisements in daily newspapers, in order to check the upward trend of default loans. The recommendations also include calls to reduce the number of stages for loan approval in state-run banks. Moreover, the technological capacity in remote branches of state-run banks will be increased for smooth operation. The state-owned bank authority will reward regular borrowers and take legal action against loan defaulters, one of the recommendations read. The top 20 loan defaulters with state-run banks are the clients of Sonali Bank.

Source: Dhaka Tribune October 09, 2017 18:45 UTC