Government Savings Bank helps 630,000 small businesses relieve their burden of bad debt.

Bangkok, Government Savings Bank helps 630,000 small businesses relieve their burden of bad debt. Bring your credit back to normal Expect every state bank Helping more than 1.1 million COVID-21 debtors by this May. Mr. Withai Rattanakorn, Director of the Government Savings Bank, revealed that according to the Cabinet's resolution on December 19, 2023, the Government Savings Bank was to assist debtors in the loan program to cover expenses for self-employed persons affected by the coronavirus (COVID-19). ) resulting in being unable to repay the debt and becoming NPL. The bank has followed up and asked the debtors of the said project to repay the debt. But some debtors still face difficulties. Unable to pay The government has therefore used the budget to compensate for damages from bad debts allocated for the loan project to pay off debt instead. The bank has completed the first phase of assistance to the said group of debtors. Resulting in liberation and relief from the burden of bad debt. Return to having a normal credit history Up to 630,000 people have been able to access funding sources in the system, accounting for 18% of the number of people who are in default debt 21 (debt overdue for more than 90 days due to being affected by abnormal situations). In the next phase, the bank will Accelerate the remaining process to be completed. It is expected that by the end of May 2024 after the Budget Act for 2025 is approved by Parliament. When all state specialized banks (SFI) are included, they will be able to help an additional 1.1 million people, accounting for 31% of all 21 accounts. The loan project for expenses for self-employed people affected by the coronavirus (COVID-19) according to the Cabinet resolution on March 24, 2020, is a project that the government has approved for the Government Savings Bank to provide loans to. Self-employed individuals, 10,000 baht each, to help increase liquidity and relieve severe suffering during the severe epidemic at that time. The project budget is 20,000 million baht, wit h the government allocating a budget to the Government Savings Bank to compensate for damages incurred from bad debts ( NPLs) totaling not more than 10,000 million baht. However, such assistance will be provided only once to prevent loss of financial discipline.- Source: Thai News Agency