THAILAND State owned Krungthai bank denies it will make a loan to finance rice scheme

 “Farmers from the West continue to block Rama II Road, 83rd km, Amphur Pakthong, Ratchaburi province.”
(image credit:
(image credit:


The state-owned Krungthai bank today denied report that it is considering to extend rice loans to the caretaker government.

The bank’s board chairman Payungsak Chartsuthipol insisted today that the bank executives have not yet considered any proposal to provide 20 billion baht/month at a board meeting today to finance the rice-pledging scheme as reported on the social media.

He said the bank also has not received any invitation from the Finance Minister Kittirat na Ranong to join the loan auction.

He assured that the bank would conduct every business with regard to the laws and with caution.

The Public Debt Managing Office has invited commercial and state banks to hear details of its second round of 40 billion baht loan auction today.

The reaction of the state bank Krungthai came after the PDRC leader Suthep Thaugsuban last night warned of possible retaliation if any bank cooperates in providing rice loans to the caretaker government to pay farmers.

One of the retaliatory measure is a call for all people to withdraw all their deposits from bank which finances the rice loans.

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