Decree No. 391/2003/QĐ-NHNN amends and supplements the provisions on reducing lending interest rates for traders in regions II, III mountainous areas, islands, and ethnic minority regions. The interest rate is reduced by 20% compared to the usual interest rate of state commercial banks.
适用范围
Traders in regions II, III mountainous areas, islands, and ethnic minority regions.
要点
- Traders borrowing from state commercial banks shall have their interest rate reduced by 20% compared to the usual interest rate at the time of lending.
- The reduced interest rate must be clearly stated in the credit contract.
🌐 本文件的社会影响
- Positive impact: Reducing borrowing costs, supporting economic development in mountainous, island, and ethnic minority regions.
- Negative impact: May create financial pressure on state commercial banks.
❓ 常见问题
How much is the interest rate reduced?
The interest rate is reduced by 20% compared to the usual interest rate of state commercial banks at the time of lending.
What is the duration of effectiveness of this decision?
This decision takes effect ten years from the date of publication in the Official Gazette.
Who is responsible for implementing this decision?
Heads of units under the State Bank, Directors of provincial branches of the State Bank directly under the central government, Boards of Directors and General Managers (Directors) of state commercial banks are responsible for implementing this decision.
How should the reduced interest rate be clearly stated in the credit contract?
In the credit contract, both the usual lending interest rate and the reduced interest rate must be clearly stated.
To which type of organization does this decision apply?
This decision applies only to traders in regions II, III mountainous areas, islands, and ethnic minority regions.
全文
Pursuant to …;
OF THE HEAD OF THE STATE BANK
Regarding the amendment and supplementation of Point 3
Circular No. 04/2002/TT-NHNN dated July 3, 2002, issued by the Governor of the State Bank of Vietnam guiding the implementation of interest rate reductions for loans from commercial banks in regions II, III mountainous areas, islands, and ethnic minority areas as stipulated in Decree No. 02/2002/NĐ-CP dated January 3, 2002, of the Government and the Law on Credit Organizations dated December 12, 1997;
GOVERNOR OF THE STATE BANK OF VIETNAM
Pursuant to the Law on the State Bank of Vietnam No. 01/1997/QH10 dated December 12, 1997 Male and the Law on Credit Institutions of December 12, 1997;
Pursuant to Decree No. 86/2002/NĐ-CP dated November 5, 2002 of the Government stipulating the functions, tasks, powers, and organizational structure of ministries and ministerial-level agencies;
Pursuant to Decree No. 02/2002/NĐ-CP dated January 3, 2002, of the Government amending and supplementing certain provisions of Decree No. 20/1998/NĐ-CP dated March 31, 1998, of the Government on the development of commerce in mountainous areas, islands, and ethnic minority areas;
Pursuant to the proposal of the Director of the Monetary Policy Department,
DECISION:
Article 1. Amending and supplementing Point 3 of Circular No. 04/2002/TT-NHNN dated July 3, 2002, issued by the Governor of the State Bank of Vietnam guiding the implementation of interest rate reductions for loans from state-owned commercial banks to traders in regions II, III mountainous areas, islands, and ethnic minority areas as stipulated in Decree No. 02/2002/NĐ-CP dated January 3, 2002, of the Government as follows:
"3. Traders borrowing funds from state-owned commercial banks shall have their interest rates reduced by 20% compared to the usual lending interest rates of state-owned commercial banks at the time of lending. The usual lending interest rate and the reduced interest rate shall be clearly stated in the credit contract."
Article 2. This Decision shall take effect ten days after its publication in the Official Gazette.
Article 3. Heads of units under the State Bank of Vietnam, Governors of provincial and centrally-administered city branches of the State Bank of Vietnam, Boards of Directors and General Managers (Directors) of state-owned commercial banks are responsible for implementing this Decision.
DEPUTY DIRECTOR
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