Published a policy to give low interest loans to hall owners

Sunbd Desk || Published: 2021-03-04 11:13:00 || Updated: 2021-03-04 11:13:00

In order to bring back the lost tradition of the film industry, the existing cinema halls need to be renovated and renovated to ensure the utilization of the loan money from the refinancing fund set up for the cinema hall owners at low interest.

The Central Bank’s Department of Offsite Supervision (DOS) on Wednesday issued guidelines for the refinancing fund.

Hall owners need to apply along with the bank to get the loan. The deadline for applications is March 31, 2022. The policy states that banks must undertake on-the-spot inspections of customers’ businesses or establishments to ensure the utilization of loans.

At the end of every three months, within 15 days of the fourth month, the customer must submit a report to the DOS regarding the latest state of the business (e.g. project implementation situation, business income situation and loan repayment). The customer has to take the latest CIB report before giving the loan.

Sunbd/NJ

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