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BAAC brings down its MRR, MOR to ease burden on farmers, SMEs

Aug 20. 2019
Apirom
Apirom
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By The Nation

The Bank for Agriculture and Agricultural Cooperatives (BAAC) has cut its minimum retail rate (MRR) by 0.125 per cent and its minimum overdraft rate (MOR) by 0.25 per cent from August 20 onwards, the bank’s president Apirom Sukprasert said.

He said BAAC’s Asset Liability Management Committee had met on August 19 to make a decision on bringing MRR down to 6.875 per cent from 7 per cent and also MOR to 6.875 per cent from 7.125 per cent. This was in response to the central bank’s decision to cut its policy rate earlier this month.

“The reduction in interest rates will reduce the financial burden on farmers and small and medium-enterprises and help them manage their cashflow better,” he said.

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