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New rule set for size of non-bank lenders: Ceilings to apply on personal loans.
Byline: Wichit Chantanusornsiri
Jun. 1--Non-bank consumer finance companies will be required to have minimum capital of 50 million baht under a new regulatory framework expected to be approved within the next several weeks.
The new rules also will restrict personal credit lending to no more than five times a person's monthly salary and also impose an annual interest rate ceiling of 28 percent.
Suparut Kawatkul, the Finance Ministry's permanent secretary, said the new regulations would apply only for loans made by juristic persons to personal individuals, and did not affect loans made between two individuals or corporate lending.
He ...
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