Depositors need not panic: TBA
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The Thai Bankers Association on Wednesday told depositors not to panic, following reports that some banks - named for involvement with the government's rice-pledging scheme - have experienced massive withdrawals.
TBA Secretary General Twatchai Yongkittikul said on Wednesday that depositors should not panick over the lending development. He noted that at present, no bank has pledged to lend to the scheme.
There are unsolved legal issues regarding to the scheme and this discouraged banks to join the lending, he said. All banks uphold transparency and good governance.
The government requires about Bt120 billion to repay farmers in the scheme.
There are reports that two state-owned banks witnessed deposit withdrawals worth over Bt6 billion recently, as depositors feared negative impacts from the lending.
