Credit card business is projected to peak this quarter. Varuth Hirunyatheb
The credit card club of the Thai Bankers’ Association has proposed the central bank maintain a minimum debt payment measure for credit cards to help alleviate the financial burden on consumers during the country’s uneven economic recovery.
Atis Ruchirawat, managing director of General Card Services Ltd, which runs Central The 1 Credit Card, and chairman of the club, said the card providers proposed the Bank of Thailand keep the minimum debt payment rate at 5% once the central bank’s financial relief measures for individual borrowers expire on June 30. Normally the minimum rate is set at 10%.
The central bank has periodically discussed with financial institutions including credit card providers about an extension of its debt…
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