To: All Licensed Banks

Subject: Loans & Facilities to Senior Government Officials

With reference to the above subject and our circular letter No. LEG/19.2/9215 dated 25.1.92.

We are pleased to inform that, as per Higher Authorities directives received by us recently, in relation to the above subject, loans/facilities given to Senior Government Officials shall be subject to the prudent lending rules and regulations. Moreover necessary legal steps/procedures shall be properly implemented regarding the recovery of such loans from all debtors.

Needless to say that, the Government have no relation whatsoever with such loans and all banks shall deal with every debtor, whatever post he is holding, in his personal capacity. Banks are advised to follow the appropriate procedure and they shall bear all the consequences if they fail to do so.

The government post shall not immune any debtor from the settlement of his debts as per the conditions stipulated for such recovery.