KTB denies rumors that it currently funds rice pledging scheme

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BANGKOK, 28 Jan 2014,  Krung Thai Bank (KTB) has denied rumors on the online social media that it is lending 160 billion baht to the government’s rice pledging scheme. 

Woraphak Thanyawong, the President of the KTB, made the statement that his bank had not been contacted by the government regarding the issue. According to him, rumors have surfaced since last week, prompting a number of its customers to inquire on the matter.

He urged all to refrain from making assumptions without evidence or using the bank as a political tool.

According to Mr. Woraphak, KTB remains transparent in its operations as it operates under the supervision of the Bank of Thailand, Securities and Exchange Commission, and the office of the Auditor General of Thailand.