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Thai banks cut lending rates to ease Covid-19 fallout

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Thai banks cut lending rates to ease Covid-19 fallout | The Thaiger
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Today the Bank of Thailand, in a joint effort with the Financial Institutions Development Fund, eased debt repayment requirements, in bid to help people affected by the Covid-19 virus who are unable to pay monthly minimums.

Kasikornbank (KBank) and Siam Commercial Bank (SCB) are also planning to reduce their prime lending rates by 40 basis points. The KBank co-president Predee Daochai says that the KBanks’ new prime lending rates which take effect tomorrow consisting of:

  • The minimum lending rate (MLR) will be reduced to 5.60% from 6%
  • The minimum overdraft rate (MOR) to 6.22% from 6.62%
  • The minimum retail rate (MRR) to 6.10% from 6.50%

“The bank’s deposits rates will remain unchanged and the rate cuts are part of KBank’s debt relief measures for customers during the Covid-19 pandemic.”

Thai banks cut lending rates to ease Covid-19 fallout | News by The Thaiger

The head of SCB Bank Arthid Nanthawitthaya announced new leading rates…

  • MLR will be reduced to 5.375% from 5.775%,
  • MOR to 6.095% from 6.495%
  • MRR to 6.345% from 6.745%,

Thai banks cut lending rates to ease Covid-19 fallout | News by The Thaiger

The latest rate reduction aims to lighten the financial burden of the bank’s retail and corporate customers amid the economic downturn stemming from the coronavirus crisis.

SOURCE: Bangkok Post

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My name is Anukul, I a writer for the Thaiger, I specialise in translation articles and social media, and assisting with our video production. I previously worked at Phuket Gazette and attended BIS international school in Phuket.

Bangkok

Chatuchak market is in worst crisis in 5 decades due to Covid-19, vendors say

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Chatuchak market is in worst crisis in 5 decades due to Covid-19, vendors say | The Thaiger
PHOTO: Bucketlistly

Chatuchak Weekend Market, Bangkok’s biggest market and a popular tourist destination, is hit hard by the new wave of Covid-19. With the lack of foreign tourists due to travel restrictions over the past year, as well as more locals staying at home despite the market’s strict disease control measures, the number of visitors at the market has dropped by 90%.

Vendors at the market say this is the worst situation in 50 years. Most of them report no sales at all. With little to no income, many shops at the market have shut down. Although the BMA is trying to relieve the situation by lowering the rental fees by half, that seems not enough to help the business. Some of the vendors have tried online trading, but sales are still low.

SOURCE: Thai Visa

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Thailand

Hotline set up for reports on alleged Covid-19 measure violations

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Hotline set up for reports on alleged Covid-19 measure violations | The Thaiger
PHOTO: Campus Star

The government is now encouraging people to help report activities deemed to violate the government’s rules and regulations to curb the spread of Covid-19 by calling the national hotline at 1111. People can report on any violations set by the Emergency Decree, which has been in place since last year and extended numerous times to combat the coronavirus.

The government says people can call the hotline for major violations, like labour trafficking across Thailand’s porous border with Myanmar, which is said to have led to the new wave of infections affecting a large migrant community in Samut Sakhon. People can also phone in the hotline for minor violations, even like gatherings that don’t abide by disease control measures.

According to the government spokesman Anucha Burapachaisri, hundreds of citizens were reported violating the Covid-19 restriction measures and laws despite the Emergency Decree.

The hotline is open for the report of the alleged Covid-19 violations and also general complaints related to Covid-19 situations. All complaints and reports are expected to be fully investigated by agencies in charge and all information of callers will be kept confidential. Service for English speakers is available upon request.

Since being set up, the hotline has received a total of 32,008 inquiries and general questions so far.

SOURCE: Pattaya News

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First phase of Thailand’s Covid-19 vaccinations to start on February 14

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First phase of Thailand’s Covid-19 vaccinations to start on February 14 | The Thaiger
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The government plans to begin Thailand’s 3-phase vaccination plan on February 14, starting with healthcare and frontline workers as well as vulnerable groups.

At the Covid-19 vaccination administration subcommittee meeting today, Public Health Minister Anutin Charnvirakul said the first phase of inoculations starting next month will target 19,014,154 Thai people in 4 priority groups…

  • 1,700,000 health workers in both public and private health care sectors.
  • 6,163,095 populations with underlying conditions.
  • 11,136,059 people aged over 60 years
  • Covid-19 task force who are in close contact with infected patients.

The vaccine availability remains limited and only target groups who are at high risk of infection will be vaccinated during the first phase of the vaccination plan, according to permanent secretary of public health Kiattiphum Wongrajit. The vaccines will be free and are not compulsory, Anutin says.

The AstraZeneca vaccine, developed in partnership with Oxford University, was approved by the Thai government for emergency last week. The first batch of 50,000 doses are expected to arrive next month. Thailand also expects 200,000 doses of China’s Sinovac Biotech vaccine to arrive next month. The Chinese vaccine is expected to be approved by Thai drug regulators within the next 3 weeks.

The second phase of the 3-part plan is scheduled to run from May to December, offering vaccinations in all regions. Thai officials aim to have at least 50% of the Thai population vaccinated by the end of the year. The final phase will be rolled out in January 2022, with the goal to have enough vaccines to distribute to create herd immunity.

The government is also launched a Line Official Account called “Mor Prom”, translated as “doctor’s ready” to facilitate the vaccination administration. People can register to make appointments for vaccination, while health authorities can monitor the adverse effects of the vaccines. The platform is expected to launch on February 12 to serve the health workers before opening to the public in April.

SOURCE: Bangkok Post| Thairath online

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