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Cutback in deposit insurance a challenge for banks and account holders

14 Sept 01:51 Key points summarised by AI

Deposit insurance in Thailand has been significantly reduced from Bt5 million to Bt1 million per depositor per financial institution, effective August 11, prompting depositors to re-evaluate cash safety.
This cutback, delayed from 2020 due to the COVID-19 pandemic, signals the Finance Ministry's confidence in the stability of the local financial system and aligns with international benchmarks.
Despite the drastic reduction, the new Bt1 million coverage still protects 98 percent of total bank accounts and aims to promote greater financial discipline among both institutions and depositors.
Wealthy depositors now have diverse investment alternatives like stocks and bonds, while state-run banks offer higher deposit protection, providing options for those with larger sums.

20 Oct 11:38 Key points summarised by AI

The Cabinet approved a new Bt50-billion 'A House for Each PLUS' home loan scheme from the Government Housing Bank, offering up to Bt3 million with 40-year repayment terms for low- and middle-income earners.
This initiative aims to significantly boost the property sector and national economy, projecting to generate Bt125 billion in economic activity and create jobs.