Demand for Cash Requires SBV's Immediate Attention before the National Day Gift Dispatch

In preparation for the upcoming National Day holiday, the State Bank of Vietnam (SBV) has issued a request for commercial banks across the country to ensure sufficient cash supplies. This is to facilitate the government's cash gift delivery to citizens as part of the celebrations marking the 80th anniversary of the August Revolution and National Day.

The focus is on banknotes of VNĐ100,000 (US$3.8) and smaller, with the four state-owned commercial banks asked to comply being Agribank, BIDV, VietinBank, and Vietcombank. The estimated budget for the cash gift program is nearly VNĐ11 trillion ($417.53 million) and is intended for the Vietnamese population of around 107 million people.

The cash gift delivery method includes both banking transfer and cash, with the SBV's request serving as a precautionary measure to accommodate increased demand for cash during the holiday season. The Prime Minister has set a deadline for the cash gift delivery, requiring it to be completed no later than September 2.

To meet this deadline, the SBV has sent a document to its regional branches and commercial banks, asking them to prepare for increased cash withdrawals from the State Treasury, even during outside working hours and holidays. This is to ensure smooth cash transactions during the National Day celebrations.

The cash gift delivery is a significant part of the government's efforts to celebrate the 80th anniversary of the August Revolution and National Day. The Prime Minister has acknowledged the importance of this gesture, stating that it is a testament to the government's commitment to the well-being of its citizens.

The SBV's request underscores the importance of the National Day celebrations and the Government's cash gift program to citizens. As the holidays approach, the cash supply is particularly important to ensure that everyone who is eligible for the gift receives it in a timely and efficient manner.

In conclusion, the State Bank of Vietnam's request for sufficient cash supplies during the National Day holiday is a crucial step in facilitating the government's cash gift delivery to citizens. The four state-owned commercial banks, Agribank, BIDV, VietinBank, and Vietcombank, have been asked to ensure they have enough cash on hand to meet the increased demand during this period. The cash gift delivery is a significant part of the celebrations marking the 80th anniversary of the August Revolution and National Day, and the SBV's request is aimed at ensuring smooth cash transactions during this special time.

Demand for Cash Requires SBV's Immediate Attention before the National Day Gift Dispatch