snoop1130 Posted November 29, 2023 Share Posted November 29, 2023 The Government Savings Bank has announced the introduction of a program of credits, to address the problem of debts owed by Thai people who have borrowed from informal lenders. Under the program, informal debtors can borrow up to 50,000 baht from the GSB, repayable within five years, or 60 instalments, at a fixed interest rate of 0.75 percent to settle their informal debts. The borrowers must, however, meet certain requirements, such as having a job, being between 20 and 65 years of age, including the five-year maximum repayment period. Full story: Thai PBS 2023-11-29 - Cigna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here. Get our Daily Newsletter - Click HERE to subscribe Link to comment Share on other sites More sharing options...
John Drake Posted November 29, 2023 Share Posted November 29, 2023 Quote The borrowers must also have someone to guarantee their borrowings from the bank or assets to place as collateral. If they had this, they probably wouldn't have gone to loan sharks in the first place. 1 1 Link to comment Share on other sites More sharing options...
Ben Zioner Posted November 29, 2023 Share Posted November 29, 2023 Groaan.. Have to go to GSB to close all my accounts.. 1 Link to comment Share on other sites More sharing options...
hotchilli Posted November 30, 2023 Share Posted November 30, 2023 15 hours ago, snoop1130 said: The Government Savings Bank has announced the introduction of a program of credits, to address the problem of debts owed by Thai people who have borrowed from informal lenders More debt? Link to comment Share on other sites More sharing options...
Cake Monster Posted November 30, 2023 Share Posted November 30, 2023 PT the Political Party that keeps on giving Link to comment Share on other sites More sharing options...
Mike Lister Posted November 30, 2023 Share Posted November 30, 2023 21 minutes ago, hotchilli said: More debt? An interesting question. The bank is owned by the government and managed by the MoF but functions under BoT banking laws. Their balance sheet is subject to BoT scrutiny and rules but their debt doesn't form part of the government budget. It seems this may be off balance sheet debt that isn't including in the total, at least I can't see it in the 2022 budget. https://dmcrth.dmcr.go.th/attachment/dw/download.php?WP=rUqjMT04qmqZG22DM7y04TyerPMjBT01qmIZAJ1CM5O0hJatrTDo7o3Q 1 Link to comment Share on other sites More sharing options...
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