How to handle the case of using a loan of 2%/year that is not suitable for the purpose of supporting interest rates from the state budget?
- How is loan interest support from the state budget implemented?
- Regulations on the general report on the results of the implementation of the program on loan interest rate support from the state budget?
- Handling the case of preferential loan interest rate support but the borrower uses it for the wrong purpose?
How is loan interest support from the state budget implemented?
Pursuant to Article 6 of Decree 31/2022/ND-CP stipulates as follows:
“Article 6. Method of interest rate support
By the time of repayment of each interest payment term, the commercial bank shall reduce the amount of loan interest payable to the customer by the amount of loan interest eligible for interest rate support in the period according to the guidance of the State Bank of Vietnam. Male."
In Article 3 of Circular 03/2022/TT-NHNN, there are instructions on the method of interest rate support as follows:
“Article 3. Methods of interest rate support
By the time of repayment of each interest payment term, commercial banks may choose to provide interest rate support to customers by one of the following methods:
1. Directly deduct the amount of loan interest payable by the customer equal to the interest rate supported loan amount.
2. Collect the entire loan interest from the customer in the period and refund the customer the interest supported loan amount on the same day of interest collection. In case the collection of loan interest in the period is done after business hours of the commercial bank, the refund of the interest rate-supported loan amount can be done on the next day."
Thus, at the time of repayment of each interest payment term, the commercial bank will choose one of two methods of interest rate support, which is to directly deduct the loan interest amount equal to the supported loan interest amount. interest rate or collect the entire loan interest in that period and will return the interest supported interest on the same day of collection of the business, cooperative, or household, if the collection interest in the period after the bank's working hours, the bank will refund the interest-supported amount on the next working day.
How to handle the case of using a loan of 2%/year that is not suitable for the purpose of supporting interest rates from the state budget?
Regulations on the general report on the results of the implementation of the program on loan interest rate support from the state budget?
Pursuant to Article 8 of Decree 31/2022/ND-CP stipulating as follows:
“Article 8. Summary report on implementation of interest rate support for the whole program
1. Within 30 working days from the date of receipt of the Ministry of Finance's written notice of appraisal data for 2023 according to the provisions of Point c, Clause 6, Article 7 of this Decree, the commercial bank shall send it to the State Bank. Vietnam reports the results of the implementation of interest rate support for the whole program (summating data for 2022 and 2023, which have been appraised by the Ministry of Finance), including: Report on evaluation of the implementation of interest rate support for customers by industry or field; The report summarizing the results of interest rate support for the whole program in the two years 2022 and 2023 according to Form No. 07 in the Appendix issued with this Decree.
2. The State Bank of Vietnam summarizes and reports the results of the implementation of interest rate support for the whole program, including the use of interest rate support funds, and reports it to the Government for submission to the National Assembly. .”
Thus, within 30 days after receiving the Ministry of Finance's written notice of appraisal data for 2023, the State Bank of Vietnam must report on the results of the implementation of the loan interest rate support program. from the state budget.
Handling the case of preferential loan interest rate support but the borrower uses it for the wrong purpose?
According to Article 9 of Decree 31/2022/ND-CP stipulates as follows:
“Article 9. Handling and recovery of the interest rate subsidy amount
1. In the course of implementation, in case it is discovered that a customer's loan is determined not to be the subject, uses the loan for the wrong purpose or does not meet the conditions for interest rate support, the commercial bank shall notify customers and convert the interest-supported loan into a regular loan, and recover the entire amount of interest-supported commercial banks within 30 days from the date of notification.
2. Where the state budget has paid the interest rate support amount or has already settled the interest rate support for the loan specified in Clause 1 of this Article, the commercial bank shall refund the state budget or report to the State budget. deduction from the amount of state budget payment of interest rate support.
3. In case the customer does not refund the interest supported amount as prescribed in Clause 1 of this Article, the commercial bank shall send a written request to the State Bank branch in the province or centrally run city (where the customer is located). customers located their headquarters) to report to the People's Committee of the province or city to direct the competent authorities in the locality to coordinate with the commercial bank to recover the amount of interest support.”
Thus, for cases of lending interest rate support but not being supported or using the loan for improper purposes or not meeting the conditions for receiving support, the lending commercial bank must notify notify the borrower and convert the interest-supported loan amount to the normal lending rate. Within 30 days of discovery, the lending bank must recover the entire loan amount. In case the borrower fails to repay the borrowed amount, the People's Committee of the province where the borrower is headquartered shall direct the competent agency to recover the loan amount for interest support from the state budget.
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