JAKARTA. The Ministry of Finance has begun transferring Rp200 trillion in funds, previously held at Bank Indonesia, to five government-owned banks.
Minister of Finance Purbaya Yudhi Sadewa emphasized that the funds are not from the government's emergency fund.
The amount comes from government funds that were previously allocated for state spending and sourced from state revenues, such as taxes and non-tax state revenues (PNBP).
The goal is to increase liquidity in the banking system and stimulate economic activity. According to a written statement from the Ministry of Finance on Friday (12/9), here is the list of banks and the amount of funds deposited:
Bank Mandiri: IDR55 trillion
BRI: IDR55 trillion
BNI: IDR55 trillion
BTN: IDR25 trillion
BSI: IDR10 trillion
Purbaya also explained that the funds will be stored in each bank in the form of a Deposito On Call with an annual interest rate of 4.02%, or 80.476% of the BI rate.
This arrangement allows the government to withdraw the funds whenever needed. Purbaya added that the banks were chosen based on their size. (ASP/KEN)
