Tighten disbursement of cash loans
According to Circular 21 replacing Circular No. 9 regulating the method of disbursing bank loans, cash loan disbursement will be tightened to monitor the proper use of capital.
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State Bank tightens cash disbursement - Photo: Thuan Thang |
Specifically, the State Bank requires banks to use payment services, not cash, to disburse loan capital.
In case the customer makes payment to the beneficiary who does not have a payment account at the payment service provider or the loan amount stated in the loan agreement does not exceed 100 million VND, the bank will be considered to disburse the loan in cash.
According to experts, tightening the disbursement of cash loans is to monitor the purpose of capital use.
If the disbursement is in cash, after the disbursement, the officer must check the customer's use of the loan to assess the accuracy of the loan purposes. The common method is to require the customer to present full documents on the amount of money used.
If the customer does not use the money for the original declared purpose, the bank's handling will be a "fait accompli" situation, depending on the customer's cooperation attitude and future income, making it very risky.
Meanwhile, if credit capital is disbursed through accounts, the use of capital is controlled from the beginning.
Customers cannot take advantage of borrowing to transfer debt from one place to another, from one bank to another, from one contract to another, leading to bad debt and insolvency as has happened before.
The Circular takes effect from April 2.
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