Participants will be able to benefit from lower interest rates, exit earlier from debt cycle
The Bank of Thailand is encouraging 500,000 borrowers to apply for its persistent debt programme to benefit from lower interest rates and exit earlier from the debt cycle.
The central bank yesterday implemented measures to manage persistent debt (PD) for revolving personal loans, as a part of household debt resolution.
Initially, around 500,000 revolving loan accounts are classified as performing loans, according to the central bank’s PD definition, said the Bank of Thailand’s deputy governor Ronadol Numnonda.
The regulator divides PD borrowers into two groups including…
