The government Savings Bank (GSB) is ready for the registration of loan-shark debts owed by impoverished people nationwide from Dec 1 to 30, Finance Minister Korn Chatijavanij said on Thursday.
The minister this morning went to the GSB headquarters to brief management and 13,000 bank staff nationwide by video conference on government policy on refinancing debt owed to private moneylenders who charge excessive interest.
“The forms for registration of illegal loans have been distributed to 800 branches of the GSB across the country. Impoverished people who owe money to loan sharks can register their debts for refinancing at all GSB branches from the beginning of next month,” Mr Korn said.
The GSB would send mobile units to provide debt registration services for those living in remote areas.
Once the registration process was completed, all debt information would be forwarded to the Comptroller-General’s Department for scrutinising. After that, provincial and district debt settling committees will negotiate with creditors to restructure the illegal debts.
GSB director Lersak Chulthet said apart from providing refinancing assistance to indebted people in the form of soft loans to pay off their debt, the GSB will provide vocational and accounting training. This was to ensure that debtors would have the work skills and monetary know how to control their expenses and not have to turn to loan sharks again.
Each person who registers their loan-shark debt can acquire a maximum 200,000 baht loan at an interest rate of 0.75 per cent per month. The rate for those who take a loan of 30,000 baht or less will be 0.50 baht a month.
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