Thai government rolls out 10,000-baht loan programme for Covid-hit households

[webfact]

 

By Panithan Onthaworn

 

State-run Government Saving Bank (GSB) is launching its latest relief-loan measure to alleviate the burden on Thai households amid the stagnant economy wrecked by the Covid-19 epidemic, it said on Tuesday. 

 

The measure aims to “help those in need of liquidity for their family, as well as to reduce debt load,” said GSB president Vitai Ratanakorn. This relief scheme is part of the Thai government’s policy to support affected households across the country, he said.

 

Under the scheme, Thais over the age of 20 are eligible for up to 10,000 baht credit with a fixed interest rate of 0.35 per cent a month and no requirement for credit guarantor and collateral.

 

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Full story: https://www.thaienquirer.com/38816/thai-government-rolls-out-10000-baht-loan-programme-for-covid-hit-households/

 

-- © Copyright Thai Enquirer 2022-03-22

 

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[EricTh]

10,000 baht ? How long will that last? A few weeks?

[SmartyMarty]

Letting the people get further into debt instead of finding a workable solution. Feudal Thailand.

[Colbrit]

Yes a recipe for further debts six months down the line, when the first payment is due.

[timendres]

3 hours ago, webfact said:

“help those in need of liquidity for their family, as well as to reduce debt load,”

In what reality does taking out a loan "reduce debt load"?

[mommysboy]

Other countries have social welfare!

[Enzian]

A lot of bad taste humor could be drawn out of speculation about what will happen to the many--probably most--who default.

[John Drake]

Make it an outright grant.

[PJPom]

If it is anything like the payments in other so called well off countries it will just be used for the latest phone.

In Australia Harvey Norman, major TV and electronics seller reported record profits during the lockdown.

[BayArea]

10 hours ago, EricTh said:

10,000 baht ? How long will that last? A few weeks?

not only that, BUT you have to pay back that 10K! sounds like a vicious circle of debt destined to repeat itself. 

[Andycoops]

To reduce their debt load by taking on more debt, it beggars belief the trash these people come up with.

[hotchilli]

17 hours ago, EricTh said:

10,000 baht ? How long will that last? A few weeks?

A day?

[hotchilli]

13 hours ago, mommysboy said:

Other countries have social welfare!

And 10 kids so they can stay home and live on it.

[RichardColeman]

50 minutes ago, hotchilli said:

And 10 kids so they can stay home and live on it.

After being 'stranded' in Blackpool , UK for 22 months due to covid, I have to say the level of that is ridiculous there. Just breeding for benefits purposes. Problem is intelligence, stupid people just breeding stupid kids relentlessly. They set no example to their kids, who get stuck in the rut. 

 

I know people may need benefits in their lives, but I think our UK should have a limit on it. You can get benefits for say 15-20 years from 16 to 67 , spread out when you need it, but that's it, no more  until your retired - force them into work - or prison ! You use you 15-20years benefits from school then that's your decision.

Edited March 23, 2022 by RichardColeman

[wombat]

29 minutes ago, hotchilli said:

And 10 kids so they can stay home and live on it.

Populate or perish was the incentive 

[jacko45k]

1 minute ago, RichardColeman said:

After being 'stranded' in Blackpool , UK for 22 months due to covid, I have to say the level of that is ridiculous there. Just breeding for benefits purposes. Problem is intelligence, stupid people just breeding stupid kids relentlessly. The set no example to their kids, who get stuck in the rut. 

 

I know people may need benefits in their lives, but I think our UK should have a limit on it. You can get benefits for say 15-20 years from 16 to 67 , spread out when you need it, but that's it, no more  until your retired - force them into work - or prison ! You use you 15-20years benefits from school then that's your decision.

Bring back the Victorian workhouses! 

[mtls2005]

18 hours ago, webfact said:

and no requirement for credit guarantor and collateral.

Hmmm.

 

 

Will be interesting to see how much gets doled out as election season draws nearer.

 

 

 

[vandeventer]

18 hours ago, EricTh said:

10,000 baht ? How long will that last? A few weeks?

Maybe if the hospitals didn't run out of medicine and handed out a herb mix that helps a little, people might not need a loan, just the right medicines.

[spidermike007]

Such boundless generosity, nobility, kindness and compassion for the people, shown by the benevolent leaders. They wake up in the morning, and the first thought that occurs to them is "what can we do to improve the lives of the people today? What can we do to make their lives better?"

 

While the army thinks up ways to spend billions on missiles, submarines, new fighter jets, and other ways to "protect the nation" from the imminent threats surrounding it, the people are scrambling to make ends meet. It is all likely by design. 

Edited March 23, 2022 by spidermike007

[rickudon]

That interest rate is still 10 times more than what you get if you are saving money ...... i can borrow cheaper than that in the UK

[garyk]

5 hours ago, spidermike007 said:

Such boundless generosity, nobility, kindness and compassion for the people, shown by the benevolent leaders. They wake up in the morning, and the first thought that occurs to them is "what can we do to improve the lives of the people today? What can we do to make their lives better?"

 

While the army thinks up ways to spend billions on missiles, submarines, new fighter jets, and other ways to "protect the nation" from the imminent threats surrounding it, the people are scrambling to make ends meet. It is all likely by design. 

I just read the submarines they are buying do not come with engines.. lol  Chinese subs designed around german power plants. And Germany has put a halt to that.