After depositor revolt, Thai Government Savings Bank scraps farm bank loan


  • World
  • Tuesday, 18 Feb 2014

BANGKOK (Reuters) - A revolt by depositors caused Thailand's Government Savings Bank (GSB) to beat a hasty retreat on Tuesday and scrap a loan it had made to a state farm bank that could have been used to prop up a politically controversial rice-buying programme.

The central bank said the GSB was in a strong financial position and the withdrawals had in no way undermined it.

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