Paying 'super small' amount at BOT toll station, State Bank reacts
'Small denomination notes of 100 VND are a normal means of payment, but the State Bank of Vietnam (SBV) has expressed its stance that it does not support drivers using this type of small notes to buy tickets in protest against toll collection at BOT stations,' Deputy Governor of SBV Dao Minh Tu told the press on the afternoon of January 8.
After the phenomenon of car drivers using small denominations of 100 VND, 200 VND, 500 VND to pay tolls at BOT stations, public opinion raised the question of whether the banking industry needed to print 100 VND bills to meet the demand at toll stations?
Regarding this issue, Deputy Governor Dao Minh Tu said that the use of small denomination notes and drivers demanding to pay in small change is only a local problem at some local BOT toll stations. Currently, the use of small denomination notes of 100 VND, 200 VND or 500 VND by some drivers to pay tolls when passing through BOT stations has temporarily subsided thanks to the Government's direction and drastic intervention in handling BOT hotspots.
Drivers use small change at Soc Trang BOT Station on January 8. Photo: Hoai Thu/VNA |
“This is an inactive form of payment and the State Bank does not support it, including drivers using this type of money. The solution to handle hot spots and BOT projects must be implemented by other solutions. The State Bank always meets the cash demand, supplying all types of money that meet the circulation standards, but the sufficient amount is in terms of structure, whichever needs to be spent a lot, it will meet a lot, which needs to be spent a little, it will meet a little but must serve the practical payment needs”, the Deputy Governor of the State Bank expressed his opinion.
Previously, on December 11, at the National Highway 5 BOT station in Van Lam district, Hung Yen, some car drivers used 200 VND and 500 VND notes to pay the toll when passing through the National Highway 5 BOT station, causing the travel time through the station to be extended by nearly 10 minutes. In response to this situation, the project enterprise had to increase staff and prepare small bills of various denominations to ensure payment when necessary for drivers.
On November 30, when driving through the Cai Lay BOT toll station (Tien Giang), some drivers gave 25,100 VND (1 20,000 VND bill, 9 500 VND bills, 3 200 VND bills) and asked for the change of 100 VND back, making the Cai Lay BOT investor confused.
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