People will be able to get 'hot loans' from banks with low interest rates.
(Baonghean.vn) - That is the opinion of Deputy Governor of the State Bank of Vietnam Dao Minh Tu when discussing solutions to prevent black credit.
According to Mr. Dao Minh Tu, the State Bank is ready to meet the urgent, sudden, and legitimate capital needs of the people. The interest rate is certainly much lower than the level that people are accessing from black credit because the bank's viewpoint does not focus on profit targets for these loans but focuses on ensuring social security.
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| Customers make loan transactions at a bank in Vinh City. Photo by Viet Phuong |
Specifically, the State Bank encourages the introduction of mobile credit models of banks, convenient products for people to access. Banks continue to have programs focusing on specific capital sources for consumer loans.
"In addition, we continue to work with commercial banks to improve procedures to make it as simple and convenient as possible for people to access capital. The State Bank's view is to be ready to meet urgent, unexpected, and legitimate capital needs in daily life," Mr. Tu emphasized.
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| Mr. Dao Minh Tu - Deputy Governor of the State Bank of Vietnam. Photo: VGP/Huy Thang. |
Usually, people are in difficulty, have credit needs in a very short period of time and not much in quantity, so the bank will have to resolve them in the shortest time, thereby contributing to preventing the invasion of black credit, attracting people to participate.
The loan interest rate is an agreement between the borrower and the lender. The loan interest rate must ensure that it covers the risks and the minimum costs of the bank. The State Bank of Vietnam calls on banks to have reasonable interest rates to create conditions for borrowers, especially farmers and low-income workers, to borrow money for medical treatment, to pay for their children's education, etc.
"I affirm that the interest rate is certainly much lower than the level that people are accessing with black credit. Because the State Bank's view is that with these loans, banks do not focus on profit targets for these loans but rather on ensuring social security."
However, to solve the problem of black credit, not only the banking industry, but also the active coordination and participation of mass organizations, especially local authorities of wards and communes, are needed. We must do social security work but still ensure debt recovery and limit risks.
Therefore, coordinating with local authorities to grasp the borrower's identity and accurately determine the legitimate needs of the people is an important issue. If anyone commits fraud, borrows money to gamble, bet on lottery, or is addicted to drugs, they will be prosecuted, because these are illegal acts.
On their part, people should proactively go to banks to borrow. In fact, current consumer lending conditions are quite favorable, with many simple credit products suitable for different borrowers. People should not be afraid of formal loan procedures and then seek black credit./.
