ANTD.VN - The State Bank has proposed a regulation that for loans under 100 million VND, customers do not have to provide a feasible capital usage plan or information about related people.
This is a new proposal of the drafting agency in the draft amending and supplementing a number of articles of Circular No. 39/2016/TT-NHNN dated December 30, 2016 of the Governor of the State Bank of Vietnam regulating lending activities of credit institutions and foreign bank branches to customers.
Specifically, in the draft Circular, the State Bank added regulations on small-value loans. Accordingly, this is a loan according to the provisions of Clause 2, Article 102 of the Law on Credit Institutions and does not exceed 100 million VND.
Along with that, in Article 7, which stipulates the conditions for credit institutions to consider and decide to lend, the State Bank amended Clause 3 as follows: “3. Having a feasible capital use plan. This provision is not mandatory for loans with small value”.
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State Bank wants to simplify procedures for small value loans |
Thus, according to the proposal of the drafting agency, for loans with a value of less than 100 million VND, customers will not have to provide a feasible capital usage plan to the credit institution.
According to the State Bank's explanation, the Law on Credit Institutions 2024 has provisions on amending and supplementing regulations on credit approval, checking loan use, and simplifying procedures for small-value credit loans.
Accordingly, in the draft Circular, the State Bank has amended and supplemented a number of regulations to be consistent with the provisions of this Law; in which, from a prudent perspective, the State Bank proposes that for small loans not exceeding VND 100 million, customers do not have to provide a feasible capital use plan or information about related persons.
Instead, the regulation requires credit institutions to have measures to inspect and monitor the use of loan capital and debt repayment by customers, ensuring the ability to recover loan principal and interest in full and on time as agreed, and the use of loan capital for the right purpose.
According to the State Bank, this regulation is suitable for the characteristics of small loans, contributing to creating more favorable conditions for customers to access bank credit capital with simpler procedures, contributing to expanding lending activities to serve life and consumption, thereby limiting "black credit".
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