The Bank of Thailand plans to implement new lending guidelines to prevent over-indebtedness of household borrowers, says Siritida Panomwon Na Ayudhya, assistant governor of payment systems policy and financial consumer protection group.
During a press conference and panel discussion programme entitled "Debt Clinic Relief" organised by Sukhumvit Asset Management Co (SAM) on Monday, Ms Siritida said rising bad debt among the Gen X and Gen Y age groups stemmed from many reasons. Firstly, it was the result of the economic crisis that occurred during the pandemic, which led to high unemployment and business failures. Secondly, it was due to a lack of financial discipline or overspending. Finally, it was due to excessive advertising by lenders.
