The decision adjusts the rediscount interest rate of the State Bank for the Poor People's Bank from 0.3% per month to 0.2% per month starting from November 1, 1999.
Scope of application
Poor People's Bank and the State Bank
Key points
- The Poor People's Bank → is entitled to borrow funds with a rediscount interest rate of 0.2% per month (Article 1).
- The outstanding balance at the State Bank as of October 31, 1999 → shall be adjusted according to the new interest rate of 0.2% per month (Article 3)
- This decision replaces Decision No. 261/QD-NH1 dated 1997 on the loan interest rate of the State Bank for the Poor People's Bank (Article 2).
- The Chairman of the Board of Directors, General Director of the Poor People's Bank and Heads of relevant units under the Central State Bank → are responsible for implementing this decision.
- This decision takes effect from November 1, 1999 (Article 2).
🌐 Social impact of this document
- The Poor People's Bank benefits from the reduction in rediscount interest rate, enhancing access to credit for target groups.
❓ Frequently asked questions
What is the rediscount interest rate of the State Bank for the Poor People's Bank?
0.2% per month starting from November 1, 1999 (Article 1).
Which decision does this one replace?
Replaces Decision No. 261/QD-NH1 dated 1997 on the loan interest rate of the State Bank for the Poor People's Bank (Article 2).
Which bank is responsible for implementing this decision?
The Chairman of the Board of Directors, General Director of the Poor People's Bank and Heads of relevant units under the Central State Bank (Article 4).
When does this decision take effect?
November 1, 1999 (Article 2).
How is the outstanding balance as of October 31, 1999 adjusted?
Adjusted according to the new interest rate of 0.2% per month (Article 3).
Full text
DECISION
On adjusting the lending interest rate of the State Bank
for the Poor People's Serving Bank
_____________
GOVERNOR OF THE STATE BANK
Pursuant to the Law on the State Bank No. 01/1997/QH10 dated December 12, 1997;
Pursuant to the Decree No. 15/CP dated March 2, 1993 of the Government regarding tasks, powers and responsibilities for state management by Ministries and ministerial-level agencies;
Upon the proposal of the Director of the Monetary Policy Department.
DECIDES:
Article 1.- The refinancing interest rate of the State Bank for the Poor People's Serving Bank is hereby adjusted from 0.3% per month to 0.2% per month.
Article 2.- This Decision takes effect as of November 1, 1999 and replaces Decision No. 261/QĐ-NH1 dated August 2, 1997 of the Governor of the State Bank on adjusting the lending interest rate of the State Bank for the Poor People's Serving Bank.
Article 3.- The outstanding balance of the Poor People's Serving Bank at the State Bank as of October 31, 1999 shall be adjusted according to the interest rate specified in Article 1 above.
Article 4.- The Chairman of the Board of Directors and General Director of the Poor People's Serving Bank, Heads of relevant units under the Central State Bank are responsible for implementing this Decision. /./
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