AI In-brief 1 Oct 06:30

New PM visits Khon Kaen to get some grass root opinions

Prime Minister Srettha Thavisin made his first provincial trip to Khon Kaen, focusing on drought problems and gathering grassroots opinions.
He received updates on water management at Ubol Ratana Dam and directly heard local complaints regarding low agricultural product prices and the rising cost of living.

AI In-brief Today 15:16

BOT set to tighten controls on BNPL service

The Bank of Thailand (BOT) will implement stricter controls on "Buy Now, Pay Later" (BNPL) services and consumer credit starting December to address growing debt issues and foster long-term financial stability.
The central bank observed a rapid surge in BNPL services, with credit accounts increasing 90% annually, highlighting elevated risks for consumers, particularly younger and vulnerable demographics.
New regulations introduce five key measures, including a minimum age of 20 for BNPL users and a credit limit of 20,000 baht with a maximum six-month repayment period.
Additional controls cap combined interest, fines, and fees at 15% per annum and prohibit the conversion of credit lines into cash or digital money, ensuring responsible lending practices.