"Mobile banks" of the poor

12/21/2023 - 4:07:41 PM

In recent years, commune transaction points of the Bank for Social Policies in Kim Boi district have been considered "mobile banks” for the poor, creating favourable conditions for people to access preferential credit policies from the Government right in their area of residence.

Staffs of Kim Boi district branch of the Bank for Social Policies disburse capital at Dong Bac commune’s transaction point.

It has become a custom that on the 17th day of every month, savings and loan groups, poor people and policy beneficiaries in Dong Bac commune gather at the office of the commune People's Committee to pay interest and deposit savings to the bank. There, information related to credit activities is publicly and clearly posted. Pham Hung Hanh, head of Ranh hamlet's loan group, shared that preferential loans are disbursed at commune transaction points, with simple and convenient procedures, thus helping save travel time and costs. People are also informed of loan amounts, interest rates, procedures, as well as new guidelines and policies of the State without having to go to the district centre.

With the operating method of "transaction at home, disbursement in the commune", the transaction points have proved effective. To serve customers, the bank has established transaction teams in communes, fully equipped with the operating conditions of a bank to serve transaction sessions. At these points, preferential credit policies and programmes of the state, bank procedures, lists of borrowers, debt balance, repayment period for each borrower, transaction rules are also publicised.

Thanks to mobile transaction sessions, poor people and policy beneficiaries in remote areas can borrow capital to develop production, gradually getting rid of poverty.

Nguyen Viet Phuong, Deputy Director of Kim Boi district branch of the Bank for Social Policies, said that the district has 17 fixed transaction points located at the offices of 17 communes and Bo town.

Currently, the bank provides loans for 15 policy credit programmes with total outstanding loans of over 557 billion VND (22.88 million USD) of over 15,300 customers. The bad debt rate accounts for 0.01% of the total outstanding loans.

In the coming time, the bank will continue to improve the quality of operations at commune transaction points, helping people borrow money in the fastest and most effective way; and proactively and effectively integrate customers' loan activities with agricultural extension programmes so that borrowers can use capital effectively, get rid of poverty sustainably, and contribute to promoting economic development and poverty reduction.

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