The labour union of the Bank of Agriculture and Agricultural Cooperatives (BAAC) has voiced opposition to the government’s plan to borrow about 172 billion baht from the bank to fund the “digital wallet” scheme.

 

Prayat Thammakhan, secretary-general of BAAC union, said bank’s employees are concerned that such a staggering amount of lending by the bank may affect depositorconfidence and the stability of the bank.

 

Moreover, he said the employees are afraid that the plan may repeat the mistake of about a decade ago, when the BAAC board was pressured by the then government of prime minister Yingluck Shinawatra to lend the government about 50 billion baht to fund the infamous rice pledging scheme, resulting in tremendous loss for the state and the lending bank.

 

Full story: Thai PBS 2024-04-15

 

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The whole digital wallet is doomed to fail... people can only spend in the district where they are registered... How many people are living in other places and provinces as they are registered??? How about people who are unable to leave their house because of illness or age?? Who is controlling how much money there is on the banks or as a income?? What happens if people don't claim their money?? Good that banks don't fall in the trap of the Government to finance this scheme.. Their losses will be terrible and maybe let banks collapse 

Haha the same story again by Thaksin as before through his proxy sister. Government borrows huge amount from his own bank. Just last time they at least pretended it would make money. This time it can't even make money, it just hands out money with questionable benefit and will probably not even increase taxes noticably. So the government is indebting itself towards itself. Sounds like a recipe for success.

15 hours ago, snoop1130 said:

Moreover, he said the employees are afraid that the plan may repeat the mistake of about a decade ago, when the BAAC board was pressured by the then government of prime minister Yingluck Shinawatra to lend the government about 50 billion baht to fund the infamous rice pledging scheme, resulting in tremendous loss for the state and the lending bank

Once bitten twice shy.... a true proverb

here is an idea to not lose face and not costing too much

 

10.000 baht TAX discount, well, only for people who actually pay taxes, which is a minority