When loan defaulting has become the most preferred option to get rich quicker for habitual defaulters, it seems those defaulters are so blessed that they can now contest the upcoming parliamentary elections by rescheduling their loans or bills just a day prior to collecting nomination papers. The cabinet last week gave the final nod to the draft Representation of the People (amendment) Act (RPA) 2023 that will allow candidates to reschedule loans or bills on the day before collecting nomination papers, instead of the current rule of seven days prior to nomination paper collection.   There’s little doubt about the magnitude and seriousness of the crisis that the accumulation of defaulted loans have caused in the country’s banking sector. According to Prothom Alo, whereas in 1990 the amount of defaulted loans was Tk 46.46 billion, in 2022 the amount reached Tk 1.3 trillion. The most loans have been defaulted in the past 14 years, when dominance of business people in parliament a...