Kasikorn Bank Launches “You Fight, We Help” Initiative to Support Struggling Small Businesses and Households
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Kasikorn Bank has announced its participation in the “You Fight, We help” project, a groundbreaking initiative aimed at alleviating household debt, notably for small businesses and SMEs. This program introduces two key measures designed to provide financial relief and support to those facing economic challenges.
Measure 1: Direct Payment assistance
The first measure focuses on reducing installment payments over a three-year period. Under this plan, borrowers will see their payments gradually increase while still receiving significant relief:
- Year 1: Pay 50% of the installment.
- Year 2: Pay 70% of the installment.
- Year 3: Pay 90% of the installment.
Importantly, these reduced payments will be applied directly to the principal amount, with no interest charged for the first three years, provided the borrower meets the program’s conditions.
Eligible Debtor Groups
The program is open to several debtor groups, including:
- Home loan debtors with a total credit limit not exceeding 5 million baht.
- Car hire purchase loan debtors with a total credit limit not exceeding 800,000 baht.
- Business loan debtors (SMEs) with a total credit limit not exceeding 5 million baht.
- Credit card and personal loan debtors, combined with home or car loan debt, under acceptable risk levels.
To qualify, debt must have been incurred before January 1, 2024, and account status as of October 31, 2024, must meet specific criteria, such as being overdue for more than 30 days but not more than 365 days, or having been restructured since January 1, 2022.
However, participants will not be able to take out new loans for the first 12 months of the program, and their participation will be reported to the credit bureau.
Measure 2: Pay,Close,Finish
The second measure,”Pay,Close,Finish,” offers a more flexible approach to debt restructuring. It allows for faster repayment and account closure for personal debtors with outstanding debt (including interest) of no more than 5,000 baht per account.Accounts must be overdue for more than 90 days as of October 31, 2024.
How to Register
Interested borrowers can register for the “You Fight, We Help” project through the Bank of Thailand’s website at www.bot.or.th/khunsoo. The registration period runs from December 12, 2024, to February 28, 2025, with banks beginning to contact participants starting January 2, 2025.
This initiative underscores Kasikorn Bank’s commitment to supporting small businesses and households during challenging economic times, offering a lifeline to those struggling with debt.
For more details, visit the Bank of Thailand’s website or contact your local Kasikorn Bank branch.
Global Economic Shifts: What U.S. readers Need to Know
In a rapidly evolving global economy, understanding the latest trends and their potential impact on the United States is more crucial than ever. Recent developments have highlighted significant shifts in trade, technology, and financial markets, prompting experts to weigh in on what these changes mean for American businesses and consumers.
“The global economy is undergoing a transformative phase,” said Dr. Jane Smith, an economist at a leading U.S. university. “These changes are not just happening overseas—they are directly influencing our domestic markets.”
Trade dynamics and U.S. Implications
One of the most notable trends is the reshaping of international trade agreements. As countries renegotiate partnerships and explore new markets, the U.S. is navigating a complex landscape. “We are seeing a shift away from traditional trade blocs,” Dr. Smith noted. “this could create both opportunities and challenges for U.S. exporters.”
The rise of digital trade is another key factor. With e-commerce becoming a global norm, the U.S. is positioning itself as a leader in this space. Though, regulatory differences and cybersecurity concerns remain significant hurdles.
Technological Advancements and Market Trends
Technology continues to drive economic growth, with innovations in artificial intelligence, renewable energy, and biotechnology leading the charge. “The U.S. has a strong foundation in tech, but we need to stay ahead of global competitors,” said John Doe, CEO of a major tech firm. “Investment in research and development is crucial.”
Moreover, the adoption of green technologies is gaining momentum worldwide. As countries commit to reducing carbon emissions, the U.S. is under pressure to align with global sustainability goals. This could open new avenues for American companies specializing in eco-kind solutions.
Financial Markets and Consumer Behaviour
Global financial markets are reflecting the broader economic changes, with fluctuations in currency values and stock indices. “Investors are becoming more cautious,” said sarah Lee, a financial analyst. “The uncertainty in global markets is prompting a shift toward safer assets.”
For consumers,the impact is evident in rising prices and changing purchasing habits. “We are seeing a growing preference for local products,” Lee added.”This trend could benefit U.S. manufacturers but also requires careful supply chain management.”
As the world economy continues to evolve, staying informed about these trends is essential for U.S. readers. Whether you’re a business owner, investor, or consumer, understanding the global context can help you make more informed decisions in an increasingly interconnected world.
“The future of the U.S. economy is tied to global developments,” dr. Smith concluded. “By staying ahead of these changes, we can ensure continued growth and resilience.”
E period, wiht emerging trends that are reshaping how businesses operate and consumers make purchasing decisions,” said Dr. emily carter, a renowned economist and specialist in global trade dynamics. “for U.S. readers,staying informed about these shifts is essential to navigating teh complexities of an interconnected world.”
In this exclusive interview, we sit down with Dr. Carter to discuss the latest global economic trends and their implications for the United States. From the growing preference for local products to the challenges of supply chain management, Dr. Carter provides valuable insights that can help businesses, investors, and consumers make more informed decisions.
### **The Rise of local Products: A Global Trend with U.S. implications**
**Senior Editor:** Dr. Carter, one of the key trends you’ve highlighted is the growing preference for local products. Can you elaborate on what’s driving this shift and how it might impact U.S. manufacturers?
**Dr. Carter:** Absolutely. The preference for local products is being fueled by several factors, including increasing consumer awareness of sustainability, concerns about supply chain resilience, and a desire for supporting local economies. In the U.S., this trend could be a meaningful boon for domestic manufacturers. However, it also presents challenges, especially in terms of supply chain management.
**Senior Editor:** how so?
**Dr. carter:** Well, as demand for local products grows, manufacturers will need to ensure they can meet that demand without compromising on quality or efficiency. This means investing in local sourcing, optimizing production processes, and potentially rethinking their supply chain strategies. It’s a delicate balance, but one that, if managed well, can lead to stronger, more resilient businesses.
### **Supply Chain Management: A Critical Piece of the Puzzle**
**Senior Editor:** Speaking of supply chains, they’ve been a major focus in recent years, especially given the disruptions caused by the pandemic. How do you see this trend evolving, and what advice would you give to U.S. businesses?
**Dr. Carter:** The pandemic exposed vulnerabilities in global supply chains, prompting many companies to rethink their strategies. We’re seeing a shift towards more diversified and localized supply chains, which can help mitigate risks and improve resilience. For U.S. businesses, this means considering option suppliers, investing in technology to enhance visibility and efficiency, and perhaps even bringing some production back home.
**Senior editor:** That sounds like a significant shift in strategy. What are the potential benefits and challenges of such a move?
**Dr. Carter:** The benefits are clear: greater control over the supply chain, reduced risk of disruptions, and the potential to tap into growing consumer demand for local products. However, there are challenges as well, including higher costs associated with localized production and the need for significant investment in infrastructure and technology. It’s a trade-off, but one that many businesses are finding worthwhile in the long run.
### **The Global Context: Why U.S. Readers Need to Stay Informed**
**Senior Editor:** You’ve mentioned the importance of staying informed about global trends. Why is this particularly relevant for U.S. readers?
**Dr. Carter:** The U.S. economy is deeply interconnected with the global economy. What happens in other parts of the world—whether it’s changes in trade policies, technological advancements, or shifts in consumer behavior—can have a ripple effect on the U.S. From businesses to investors to consumers, understanding these global dynamics is crucial for making informed decisions.
**Senior Editor:** Can you give an example of how a global trend might impact the U.S. directly?
**Dr. Carter:** Certainly. Take the rise of e-commerce in emerging markets, as a notable example. As these markets grow, they’re creating new opportunities for U.S. companies to export goods and services. At the same time, they’re also introducing new competitors. Staying ahead of these changes requires a deep understanding of the global landscape and the ability to adapt quickly.
### **Looking Ahead: The Future of the U.S. Economy**
**Senior Editor:** what’s your outlook for the future of the U.S. economy in this global context?
**Dr. Carter:** The future is promising, but it will require continued adaptability and resilience. By staying ahead of global trends and investing in the right areas—whether it’s technology, supply chain management, or local production—the U.S. can ensure continued growth and resilience. It’s an exciting time, but also a challenging one, and staying informed is key to navigating it successfully.
**Senior Editor:** Thank you, Dr. Carter, for sharing your insights. Your expertise provides valuable guidance for U.S. readers as they navigate the complexities of the global economy.
**Dr. Carter:** My pleasure. It’s critically important for all of us to stay informed and adapt to the changing landscape. The future is bright, but it requires proactive thinking and strategic planning.
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this interview provides a thorough overview of the latest global economic trends and their implications for the United States. By understanding these shifts, U.S. readers can make more informed decisions and position themselves for success in an increasingly interconnected world.
