The rapid rollout of the programmes reflects banks'' efforts to channel credit towards sectors considered key drivers of economic growth while providing greater support to SMEs.
Small loans will be capped at VNĐ200 million for people''s credit funds and VNĐ400 million for all other credit institutions, from the current maximum of VNĐ100 million.
Experts warn that while digital lending channels hold great promise, coordinated reforms in legal frameworks, infrastructure and technology adoption are crucial to unlocking their full potential.
Increasing the limits of unsecured loans given by banks will prevent people from approaching loan sharks, an online conference hosted by the State Bank of Viet Nam (SBV) heard on Wednesday.
