Cash withdrawals from banks return to normal

BANGKOK, February 21 (TNA) - The Bank of Thailand (BOT) reports that cash withdrawals from banks have returned to normal, after the management of the Government Savings Bank (GSB) stopped lending to the government's loss-ridden rice-pledging scheme through the Bangkok for Agriculture and Agricultural Co-operatives (BAAC). BOT Spokeswoman Roong Mallikamas told journalists of the update on Friday, acknowledging that deposits and withdrawals at the GSB had been unusually substantial and consequently the GSB had withdrawn obviously more banknotes from the BOT during the period. The spokeswoman said the activities were particularly noticeable in the Thai South and the central region, including Bangkok and nearby provinces, but the BOT always reserves enough banknotes for three months of withdrawals; so, there was enough cash to handle excessive transactions during the three-day period. According to the spokeswoman, the estimation by the Office of the National Economic and Social Development Board (ONESDB) that the Thai economy should grow by 0.6 per cent in the fourth quarter of last year and by 2.9 per cent throughout last year was close to the estimation of the BOT's Monetary Policy Committee (MPC), while spending in the private sector increased slightly last year. The BOT spokesperson noted that the MPC will issue its projection on Thailand's updated economic outlook this year on March 12. Meanwhile, a rallying protest of a group of farmers at the Thai Ministry of Commerce on the outskirts of Bangkok has continued, so have demonstrations of the anti-government People's Democratic Reform Committee (PDRC) at many locations in the capital despite a spate of violent incidents since late last year. On Thursday night, a branch of Siam Commercial Bank in Bangkok's Klongsamwa area was hit by a grenade, but there were no report of casualties. The grenade did damage a glass wall, part of ceiling and an ATM booth of the bank branch. It was found to be an RGD-5 hand grenade, the same kind used in attacks on Bantadthong Road on January 17 and at the Victory Monument on January 19. Thai Army Chief General Prayuth Chan-ocha expressed his concerns over the use of weapons and asked all sides to abide by law.(TNA)