The State Bank of Vietnam (SBV) must direct commercial banks to meet all payment and cash demands of individuals and firms during Tet (Lunar New Year).
Hanoi (VNS/VNA) - The State Bank of Vietnam(SBV) must direct commercial banks to meet all payment and cash demands ofindividuals and firms during Tet (Lunar New Year).
It was under Directive No. 22/CT-TTg issued last week by PrimeMinister Pham Minh Chinh with an aim to prepare for the country’s largestfestival Tet, which falls on January22, 2023.
Under the directive, the Prime Minister requested the SBV toproactively monitor the global and domestic economic developments in order tomanage the monetary policy cautiously and flexibly.
Interest rates and exchange rates must be managed reasonably andin line with the market situation to ensure the stability of the monetary andforeign exchange markets, the Prime Minister noted.
The monetary policy must be closely coordinate with fiscal policyand other macroeconomic policies in order to contribute to controllinginflation, stabilising the macro-economy and ensuring the great balance of theeconomy, according to the directive.
The Prime Minister also required the SBV to strengthen inspectionand supervision of operation of credit institutions and foreign bank branches,ensuring the safety of the entire banking system.
The SBV must also direct commercial banks to proactively developand implement specific plans for ATM operations at the end of this year and theupcoming Lunar New Year, including cash plans for ATM, ATM funds, staff andmaintenance for ATMs.
Commercial banks are directed to closely monitor to detect andrefill ATMs that run out of money; take measures to promptly handle and respondto incidents and situations to ensure safe and smooth operation of the ATMsystem; promptly support and solve customers' problems during ATM transactions,prioritise quick handling of cases where ATMs swallow cards.
According to the current legal regulations, commercial banks willbe fined 15 million VND for ATM machines that run out of cash. A fine of 10-15million VND will be imposed on banks that suspend ATM operations without a24-hour notice./.
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The article by Cuba’s Inter Press Service detailed how Vietnamese private enterprise Agri VMA leased 1,000 ha of land in Los Palacios district, Cuba’s westernmost province of Pinar del Río, for rice cultivation over a three-year period. The project’s first harvest in 2025 recorded an impressive yield of 7.2 tonnes per hectare, far exceeding the local average of 1.6 tonnes.
Illustrative image (Photo: taichinhz.com) 
