Connect with us

Economics

Krungthai Bank sees e-banking growth from gov’t COVID-19 measures

Most financial aid measures introduced by the government require users to make transactions via the Pao Tang mobile application, developed by Krungthai Bank, which is helping to push Thailand towards having a fully digital society.

National News Bureau of Thailand

Published

on

logomain

BANGKOK (NNT) – Krungthai Bank has reported a jump in e-banking platform users, thanks to the government’s COVID-19 aid measures which familiarized the general public with electronic transactions via a mobile e-wallet application developed by the bank.

Loading...

Krungthai Bank Executive Director Krisada Chinavicharana disclosed today the bank has seen a growth in its client base to 40 million, with 1.2 million entrepreneurs opening accounts with the bank, and some 100 billion baht in circulation thanks, to the government’s COVID-19 aid measures.

Most financial aid measures introduced by the government require users to make transactions via the Pao Tang mobile application, developed by Krungthai Bank, which is helping to push Thailand towards having a fully digital society.

Mr. Krisada said Krungthai Bank has played a role as the government’s main economic driving mechanism for the past 55 years, by helping distribute government funds to people seeking access to financial resources.

The bank has been an important partner in supporting the government’s financial aid measures, from the COVID-19 payouts to the welfare card campaign. The bank has also facilitated the digital sale of government bonds and developed the digital learning platform for the Student Loan Fund.

The bank’s executive director revealed the bank has successfully migrated its Krungthai NEXT digital banking services to a cloud infrastructure. This allows the platform to serve the current 12 million users faster and with better stability, while enabling the bank to introduce products such as health insurance and loans that better suit the fast changing situation, while promoting sustainable economic growth.

Information and Source
Reporter : Tanakorn Sangiam
Rewriter : Tarin Angskul
National News Bureau & Public Relations :
http://thainews.prd.go.th

Source link

Economics

The Future of Asia: greener but with a public and private debt hangover

The COVID-19 pandemic has been a perfect storm, destroying jobs, worsening poverty and inequality, and creating a public and private debt problem—especially for countries and firms already in fragile financial health beforehand

Avatar

Published

on

The Sydney Opera resumed live performances and the city of Melbourne recently hosted the Australian Open tennis tournament with fans (mostly) in attendance.

Loading...
(more…)

Continue Reading

Economics

50:50 campaign may not get immediate extension

National News Bureau of Thailand

Published

on

logomain

Loading...

BANGKOK (NNT) – The government’s 50:50 co-pay campaign expiring on 31st March may not be getting an immediate campaign extension. The Minister of Finance says campaign evaluation is needed to improve future campaigns.

The Minister of Finance Arkhom Termpittayapaisith today announced the government may not be able to reach a conclusion on the extension of the 50:50 co-pay campaign in time for the current 31st March campaign end date, as evaluations are needed to better improve the campaign.

Originally introduced last year, the 50:50 campaign is a financial aid campaign for people impacted by the COVID-19 pandemic, in which the government subsidizes up to half the price of purchases at participating stores, with a daily cap on the subsidy amount of 150 baht, and a 3,500 baht per person subsidy limit over the entire campaign.

The campaign has already been extended once, with the current end date set for 31st March.

The Finance Minister said that payout campaigns for the general public are still valid in this period, allowing time for the 50:50 campaign to be assessed, and to address reports of fraud at some participating stores.

The Fiscal Police Office Director General and the Ministry of Finance Spokesperson Kulaya Tantitemit, said today that a bigger quota could be offered in Phase 3 of the 50:50 campaign beyond the 15 million people enrolled in the first two phases, while existing participants will need to confirm their identity if they want to participate in Phase 3, without the need to fill out the registration form.

Mrs Kulaya said the campaign will still be funded by emergency loan credit allocated for pandemic compensation, which still has about 200 billion baht available as of today.

Source link

Continue Reading

Economics

Customs Department Considers Measures to Help SMEs

National News Bureau of Thailand

Published

on

logomain

BANGKOK (NNT) – The Customs Department is seeking ways to reduce the impact of the exemption on import tax and value-added tax (VAT) for imported goods worth up to 1,500 baht, as such measures are hurting small and medium-sized enterprises (SMEs).

Loading...
(more…)

Continue Reading

Most Viewed

Subscribe via Email

Enter your email address to subscribe and receive notifications of new posts by email.

Join 13,956 other subscribers

Latest

Trending