SoBs default loan stands at Tk 550.95b: Finance minister

Finance minister AMA Muhith on Thursday told parliament that the amount of defaulted loan of different state-owned banks is some Tk 550.95 billion against individuals and organisations, reports UNB.

"As per the statistics of January, 2018, the amount of the defaulted loan of different government banks is Tk 55,095.33 crore in the sector of individuals and organisations," he said while replying to a tabled starred question from Tariakat Federation MP, MA Awal (Laxmipur-1).

As part of improving recovery situation of the defaulted loan in the banking sector, various steps have been taken to identify defaulted clients and bring them under the purview of laws, said the finance minister.

He said cases are being filed against defaulted clients to collect loans under the Ortho Rin Adalot Ain, 2003 (Money Loan Court Act, 2003).