On the afternoon of June 2, 2020, at the Government’s monthly press conference of May 2020, answering the reporters' questions, Deputy Governor Dao Minh Tu of the State Bank of Vietnam (SBV) shared that after the outbreak of the Covid-19, the SBV had directed the whole banking sector to get involved as quickly as possible to support and remove the difficulties for the people and the businesses affected by the Covid-19 pandemic.
An overview of the press conference
However, the banking industry has still been complying strictly with the policy of removing the difficulties but not lowering the credit standards in the lending operations.
The SBV Deputy Governor also shared that throughout the implementation of Circular No.01/2020/TT-NHNN dated March 13, 2020, the SBV has instructed the credit institutions to facilitate the extension of businesses’ due debts and interests, considering the current difficulties of those businesses with a view to adjusting and creating more favorable conditions for capital disbursement, and providing capital to the businesses.
Currently, the businesses with high-performing projects have enjoyed quite robust disbursement by the credit institutions. Those businesses which do not yet have demands for new loans are allowed to promptly extend and delay debt service to mitigate their difficulties. And thus, according to the SBV Deputy Governor, the supporting capital for the businesses needs to go along with ensuring the credit quality.
Deputy Governor Dao Minh Tu answers reporters’ questions at the Government’s monthly press conference
Answering the reporters' question about the deadline of July 7, 2020 for e-wallet holders to complete the declaration and verification of their identities, Deputy Governor Dao Minh Tu said that this regulation is aimed to implement Circular 23 amending and supplementing Circular 39 in 2014.
According to the SBV Deputy Governor, the declaration and verification of the identities of e-wallet holders is to ensure the safety for users of e-wallet services, because in recent times there have been some cases of e-wallet holders’ personal information being compromised, affecting the security of their accounts.
The SBV Deputy Governor emphasized that in order to ensure the safety of the electronic wallets connected to bank accounts, the debit cards need to be declared. After making the declaration, payment intermediaries shall be responsible for keeping their customers’ information confidential in accordance with the applicable laws.
Le Hang