Facebook: Ministry of Finance News Station has revealed the latest measures from Bank of Thailand To help business receivables And retail borrowers, where the BOT has set out various measures as follows: Subject: The BOT extends the period for debtors to apply for assistance And let financial service providers proactively accelerate debt restructuring
Mr. Ronadon Numnon, Deputy Governor, Financial Institutions Stability The Bank of Thailand (BOT) revealed that the new coronavirus situation affects debtors both directly and indirectly. Specialized Financial Institutions And business operators that are not financial institutions (Financial service providers) expedite help with debtors To mitigate the effects of such situations With details as follows
1. Extend the time for retail debtors to apply for assistance until June 30, 2021 (originally due on December 31, 2020) whereby the debtor can apply for assistance by himself. Or employers or business owners can apply for assistance on behalf of the debtor, for example in the case of welfare loans Which requires consent from the debtor who is an employee or employee In order to obtain assistance from the debtor in an efficient and timely manner.
2. Let financial service providers expedite assistance to all types of debtors. (Retail receivables, SMEs and large business receivables) as appropriate for the type of credit and taking into account the risk of the debtor Classified by nature of business and affected areas with different guidelines as follows
2.1 Debt restructuring such as reducing installments, extending debt repayment periods Renew the credit limit or keep the limit Change the type of debt from short-term loans to long-term loans. Be free from temporary principal and / or interest payments Reduce the interest rate below the market rate, etc.
2.2 Provide additional working capital and liquidity.
2.3 To consider postponing debt repayment for SMEs debtors with credit limit not exceeding 100 million baht under the soft loan act.
2.4 Relax other conditions as appropriate.
Debtors in need of assistance should immediately contact each financial service provider’s call center directly or call 1213 Financial Consumer Protection Center, BOT, or via the “Expressway Debt Solution” website. https://www.1213.or.th/App/DebtCase
The BOT will closely monitor the progress of financial service providers’ assistance so that the BOT can review assistance measures as appropriate for the situation.
