Thailand's Finance Minister urges banks to boost lending

Thailand's Finance Minister Pichai Chunhavajira is encouraging banks to increase lending as household debt stabilizes. He announced this during the launch of the Government Savings Bank's new loan program aimed at first-time borrowers. The new "Credit-Building, Opportunity-Creating Loan" program targets 300,000 individuals, offering loans up to 20,000 baht at a 0.60% monthly interest rate. The goal is to help borrowers improve their credit over three years. Pichai also mentioned potential extensions of reduced transfer and mortgage fees, which had expired. The government's debt relief program has received over a million applications, with new applications stabilizing.