The state-owned Bank for Agriculture and Agricultural Cooperatives (BAAC) has faced concerns from its customers regarding its plan to borrow 172.3 billion baht to finance the digital wallet handout scheme. The BAAC’s labor union has urged the government to address these concerns and ensure that the borrowing plan complies with the law.
Former prime minister Thaksin Shinawatra, however, expressed confidence in the government’s 500-billion-baht handout program during his visit to Chiang Mai for the Songkran festival. Thaksin believes that the digital wallet rollout will help improve the country’s sluggish economy.
Thaksin argues that the limited growth in the economy is due to a lack of money circulating in the system. He believes that injecting money through the digital wallet scheme will stimulate economic activity. Thaksin also pointed out that delayed budget approvals and bureaucratic hurdles have hindered swift implementation, further contributing to the slowdown.
While the BAAC’s labor union wants assurances about the legality of the borrowing plan, Thaksin believes that the government has the full authority to proceed with the digital wallet program. He remains optimistic that this initiative will help improve the economy by providing much-needed support to farmers and boosting agricultural livelihoods.
Thai Pakdee Party leader Warong Dechgitvigrom has also raised concerns about the BAAC’s adherence to its principles. He cautions that the funds should be utilized in accordance with the BAAC Act to support farmers, and distributing the funds through the digital wallet project may potentially violate the law.
In summary, Thaksin Shinawatra and the BAAC’s labor union have expressed differing opinions regarding the digital wallet handout scheme. While the union seeks clarification on the legality of the borrowing plan, Thaksin remains optimistic about the potential of the digital wallet to boost the country’s economy.
The concerns raised by the BAAC’s labor union regarding the borrowing plan for the digital wallet handout scheme highlight the issues related to the implementation of such programs. The digital wallet initiative aims to provide financial support to farmers and stimulate economic activity. However, there are doubts about the legality of the borrowing plan and whether it complies with the BAAC Act.
Market forecasts for the digital wallet industry in Thailand indicate significant growth potential. The increased adoption of digital payment solutions and the government’s push for digital transformation contribute to this positive outlook. The digital wallet market is expected to expand as more individuals and businesses embrace convenient and secure digital payment options.
One of the challenges faced by the digital wallet industry is building trust and ensuring the security of transactions. As consumers increasingly rely on digital wallets for financial transactions, it becomes crucial to address concerns related to data privacy, fraud protection, and cybersecurity. Companies operating in this industry must prioritize implementing robust security measures to gain the trust of customers.
To learn more about the digital wallet industry and its potential impact on the Thai economy, you can visit reputable sources such as the Bank of Thailand’s website at www.bot.or.th. This provides insights into the central bank’s perspective on digital payment systems and advancements in financial technology.
In conclusion, while there are concerns regarding the borrowing plan for the digital wallet handout scheme, the market forecasts for the digital wallet industry show promising growth. Addressing issues related to legality, security, and trust will be crucial for the successful implementation of digital wallet programs.
The source of the article is from the blog girabetim.com.br