The global economy, crippled by the epidemic of coronavirus, is turning around. Although every sector of the economy has started to return to a positive trend, the country’s banking sector has come under criticism for various reasons in the outgoing year. The International Monetary Fund (IMF) has sent a strong message to Bangladesh Bank about the apparent delay and lack of control over the collection of defaulters. Apart from this, there is also an uproar over the control of boards in private banks, removal of MD-Chairman, resignation of money laundering allegations.
The banking sector has been criticized for delaying the release of incentives, lowering remittances and expelling workers despite the central bank’s ban. Bankpara is abuzz over the gift of a banker’s car to the heroine. However, at the end of the year, the question of the recruitment test of five state-owned banks was leaked. Job seekers and concerned people raised questions about the neutrality of the central bank due to the incident that took place in Bankpara.
However, in the midst of criticism, some successes were also eye-catching. Although many branches of banks are out of online banking, 100% of the outgoing year is brought online. Banks have been busy expanding their reach. Now leaning towards the sub-branch. Banks are conducting banking activities in more than 1,600 sub-branches. To serve the customers, several banks have come up with new debit cards with modern services.
However, analysts have several suggestions to boost the banking sector in the new year. They say those involved in banking irregularities should be brought under the law and punished. The central bank should focus on increasing debt collection.
this year, the third quarter (July-September) stood at the end of 1 lakh 45 thousand 391 crore rnasthiti byankakhatera total of Rs 58 lakh. Of this, the amount of defaulted loan is one lakh one thousand 150 crore taka, which is 8.12 percent of the total loan. At that time, the state-owned commercial banks disbursed a total loan of Tk 2,19,292 crore, of which defaulted loans amounted to Tk 44,017 crore, which is 20.06 percent of the total loan.
Private banks have disbursed loans of Tk 9,26,495 crore. Of this, Tk 50,743 crore has become defaulted, which is 5.48 percent of the total debt. Foreign banks have defaulted
However, in December 2020, the default debt of Corona was Tk 8,734 crore , which is 7.8 percent of the total debt. According to estimates, defaulted loans increased by Tk 12,417 crore in the first three months of this year (first 9 months).
Some individuals and organizations use various tricks not to repay the money of the bank. Of these, after the onset of coronavirus, the borrowers are given a mass discount. On that occasion a new party was formed for the traders not to repay the loan. Even if they can afford it, the bank is reluctant to return the money. Many of them are bringing the money of the export bill to the country again but they are taking the opportunity of discount without paying the full dues.
However, they are not going to be defaulted due to the instructions of the central bank. Banking facilities have to be given along with new loans. This is disrupting the bank’s income and cash flow. In the three quarters of this year (January-September), banks have recovered only Rs 4,195 crore from non-performing loans (NPLs) in nine months, which is less than the year 2020, when Corona started. In 2020, the loan collection was five thousand 602 crore. In 2019, 15 thousand 46 crore rupees was recovered from the defaulters.