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Bank of Thailand Release measures to remedy the impact of COVID 19, extending time to help retail debtors What details are there?
On January 12, 2021, the Bank of Thailand – Bank of Thailand published a public relations message that The Bank of Thailand now extends the period for small debtors to apply for assistance until June 30, 2021 and allows providers of financial services accelerate assistance to all types of debtors. (Retail accounts receivable, SMEs and large companies) as appropriate to the type of credit and the debtor’s risk.
To mitigate the impact of the new coronavirus situation, the Bank of Thailand requests that financial institutions, specialized financial institutions, and commercial operators other than financial institutions (Financial Service Providers) expedite assistance with debtors With details as follows
1. Extend the time for small debtors to request assistance until June 30, 2021 (from the original due date on December 31, 2020) by which the debtor can request assistance by himself or by the employer and the business owner. You can apply for assistance on behalf of the debtor, as in the case of social loans. That requires the consent of the debtor who is an employee or employee 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 accounts receivable, accounts receivable from SMEs and accounts receivable from large companies) as appropriate for the type of credit And taking into account the risks of the debtor Classified by nature of business and affected areas Which has different guidelines as follows
2.1 Debt restructuring, such as reducing installments, extending debt repayment periods Renewing the credit limit or maintaining the limit Change the type of debt from short-term loans to long-term loans. Be free of temporary payments of principal and / or interest Reduce the interest rate below the market rate, etc.
2.2 Provide additional working capital and liquidity
2.3 Consider postponing debt repayment of debtor SMEs with a credit limit not exceeding 100 million baht under the Soft Loans Act.
2.4 Relax other conditions as appropriate.
The debtor who needs assistance can contact the following channels.
– Communicate directly with the Call Center of each financial service provider.
– Call 1213, National Bank Financial Consumer Protection Center
– Expressway to resolve debt website 1213.or.th and you can read all the details here
Thanks for the information from Facebook, Bank of Thailand – Bank of Thailand
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