Finance Minister Purbaya Suddenly Asked, Guarded, DPD RI Members When Wanting to Investigate KUR Disbursement, What's Going On?

News Summary:

• Finance Minister Purbaya Yudhi Sadewa held a working meeting with the IV Committee of the Regional Representative Council (DPD RI) on Monday (11/3/2025).
• In the meeting, Purbaya received complaints about the disbursement of the People's Business Credit (KUR) that had run out in the regions.
• Purbaya ensured that there is still a budget of Rp 60 trillion allocated for KUR.
• Purbaya promised to investigate the issue, but he asked to keep the DPD RI members confidential.

 

- Finance Minister Purbaya Yudhi Sadewa suddenly requested protection from DPR RI members while discussing the People's Business Credit (KUR) in state-owned banks (bank himbara).

At that moment was captured during the work meeting with the IV Committee of DPD RI on Monday (11/3/2025).

In that meeting, it was initially discussed about the allocation of Rp 200 trillion to 5 banks, namely Bank BRI worth Rp 55 trillion, Bank Mandiri Rp 55 trillion, Bank BNI worth Rp 55 trillion, Bank BTN Rp 25 trillion, and BSI amounting to Rp 10 trillion.

"Basically, we will leave it there. Regular banks, when they have deposits, they will allocate the money, right? Because if they don't pay me interest, the return could be zero if I keep it in a safe. Therefore, they will be forced to channel that money. That is what I actually forced the banking sector to channel the money with their own skills," said Purbaya, quoted from Kompas TV's YouTube.

Purbaya explained that, in managing the money, the bank is prohibited from buying dollars or providing it to conglomerates, as well as not allowed to purchase SBN (state securities).

"Sometimes I go to those banks. I have been to BTN, BNI, and Mandiri: 'Where is the money? What is the absorption rate? Did you buy dollars or not?' None of them admitted to buying dollars. I believe they buy a little bit. But if caught, they can't run away," he said.

Purbaya admitted he does not have direct authority in banking, as currently banks are under Danareksa.

"But I am a member of the Danareksa Supervisory Board. There we can give very strong inputs. Danareksa also has to pay taxes, right? If there are various issues, we will also clean up Danareksa if they protect bad practices," he said.

One member of the DPD then asked about the People's Business Credit (KUR) which he claimed had been exhausted in his region.

Purbaya also denied it, because according to his records, there was a fund of Rp 284 trillion for KUR, and only Rp 224 trillion had been allocated, so there was still nearly Rp 60 trillion left for KUR.

This statement was denied by DPD members, who claimed they have visited the regions to check several banks, and indeed the allocation for KUR has been exhausted.

Purbaya then promised to ask about it to the Economic Coordinating Minister.

"Oh, that's just a joke. Which bank are you from?" asked Purbaya.

This DPD member also explained the findings in the region that the KUR has already run out this October.

This triggered a strong reaction from Purbaya.

"It means they are both smoking the same, Sir. I will check later. Yes. Try to see what it looks like," he said.

Purbaya also promised to check it.

"Yes, Sir. I will check later. If there are banks playing around, they are not safe. That's all, Sir," he threatened.

Another DPD member then revealed the bank's strategy of requesting collateral even though the loan amount was below Rp 50 million.

Although according to the regulations, loans below Rp 50 million do not require collateral.

"No, there are many UMKM actors who don't want to borrow because their collateral is required, and this is a common finding, Sir," he said.

Purbaya also promised to investigate the implementation of KUR.

"If they are fooling around, just be careful. Hah? If I deal with them, the people will get into trouble again. It's not your business. But let it be, I'll increase the tax, making their life difficult," he said firmly.

According to Purbaya, KUR is a government program that should be for MSMEs.

However, the reality is that most of them are old borrowers.

"But it can get interest subsidy from me. I have suffered a lot of loss. Basically, if I don't want to suffer loss, I will check it," he emphasized.

Admitting Purbaya, his party has long wanted to examine it, but it is not the Ministry of Finance's program.

Therefore, he requested support from the DPD members.

"Later, when there's a commotion, the gentlemen, please take care of me. Later, he will say, 'You interfere with another ministry.' Oh my. But this is my money, you know. And I don't see the impact on micro and small businesses. And all along, everyone has been arguing about this issue," he said.

Purbaya admitted that UMKM are often used as the backbone of Indonesia's economy during crises.

"But once it survives, he feels pain, there's no program, no credit. Clearly, I will handle it later. Is it okay for me to handle it?" said Purbaya.

Some staff also reminded that it is the economy minister's affair.

"Purbaya then evaded." "I'm taking a risk. If it's not effective, I'll stop the money. I'll stop the interest subsidy. Let it be," he said.

5 Bank Himbara Disgraced Rp 200 Trillion

Previously, five state-owned banks received the funds, namely Bank BRI worth Rp 55 trillion, Bank Mandiri Rp 55 trillion, Bank BNI worth Rp 55 trillion, Bank BTN Rp 25 trillion and BSI amounting to Rp 10 trillion.

According to Purbaya, banking needs to channel the funds optimally so that they do not just remain idle without adding value to the economy.

"When banks have more money, there is a cost of capital, right? If they keep it in a vault, they will suffer a loss. For example, if they can't buy it again, they will suffer a loss (in banking)," said Purbaya at the DPR RI Parliament Complex on Thursday (9/11/2025).

Purbaya stated that the additional funding of Rp 200 trillion for all these state-owned banks is a stimulus for the banking sector to be more active in seeking potential projects and sectors to channel financing.

"So what we force is to provide fuel so that the market mechanism can function, so they are forced to channel it, not forced. Usually, they casually have to think harder," said Purbaya.

"Can they be smart enough to find good projects, to channel the funds so that they do not experience negative carry, negative spread," he added.

Finance Minister Purbaya is confident that the measures will promote faster economic growth.

"Thus, money will almost certainly spread through the economic system, the economy will grow faster, and credit will certainly grow faster than it is now," he emphasized.

Purbaya ensured that there are no government-set tenors for the state banks.

Tenor is the agreed period between the bank and the customer for the settlement of a loan or credit, starting from the disbursement of funds until the maturity date.

Purbaya said that the fund placement period for the five state-owned bank consortiums (himbara) is in accordance with his decision.

"So this actually doesn't have any term, the previous statement that it was six months was wrong, my subordinate made a mistake in writing," said Purbaya at the State Palace on Monday (9/15/2025).

"Basically, that's it, like when I put money in the bank, it's up to me how long. It circulates there, so that it can circulate in the economy," he continued.

Purbaya stated that the government still has excess funds even though Rp 200 trillion has been released to five state-owned banks. Therefore, this decision is believed not to disrupt Indonesia's economic condition.

"I can calculate that usually the government's money stored in the central bank is higher than that. So if it's only Rp 200 trillion, it won't affect my condition," he said.

According to Purbaya, placing government funds into banking institutions would actually encourage banks to be more sustainable and the turnover of financing for other development programs.

"Leave it there. I won't extend it, let it be like that," he said firmly.

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