InfoQuest, (April 15, 2020) -- The central bank has been closely monitoring the situation of the Covid-19 outbreak, which has affected businesses and people, and has ordered financial institutions and government banks to provide the best possible assistance to those affected by the outbreak, according to Mr. Ronadol Numnonda, deputy governor for Financial Institutions Stability under the Bank of Thailand (BOT).
Mr. Ronadol added that the measures announced by financial institutions were minimal and that borrowers affected amid the virus could ask financial institutions for more assistance, such as applying for a cut in interest rates if they could not repay under the new regulations.
In addition, the BOT collected information on new credit programs of financial institutions, including those launched in accordance with previous cabinet resolutions and others released by financial institutions themselves, in a bid to help borrowers navigate the difficult times.
Source: InfoQuest, by Kasamarporn Kittisamphan / Rachada, translated by Xinhua Silk Road
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