President instructs CB to extend currency exchange deadline

31 December 2017 11:04 am - 14     - {{hitsCtrl.values.hits}}

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President Maithripala Sirisena has instructed the Central Bank to extend the deadline to return mutilated currency notes until March 31,2018, the President’s Media Division said yesterday.

Earlier, the Central Bank had asked the public to exchange deliberately mutilated or defaced notes before December 31 and warned that it would not accept such notes from next year.

The PMD said the President had instructed the Central Bank to extend the deadline till March 31.

The CB said that willfully mutilation, alteration or defacement of Sri Lanka currency notes is an offence under the Monetary Law Act No. 58 of 1949, and is punishable by imprisonment or fine or both.

Under the Regulation E of the Monetary Law Act, no claim in respect of the willfully mutilated or altered notes shall be entertained and such notes shall be retained by CBSL. The holder of these currency notes will have to suffer the loss of face value of such notes.

However, CBSL informed the people that that currency notes that are not willfully mutilated, altered or defaced but damaged due to normal wear and tear during circulation can continue to be exchanged at CBSL and Licensed Commercial Banks as is the current practice.

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  Comments - 14

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  • janathawa Sunday, 31 December 2017 12:02 PM

    P-dent moslty interferes to whatever directive issued by a department for the good, may be he is trying for political good name but don't think it is a weak interference and bad for the country, a rule should whatsoever stick to a rule then the public will be

    city Sunday, 31 December 2017 01:44 PM

    Spot on

    Ruwan Monday, 01 January 2018 08:31 AM

    Vacillation as usual., You need to take tight decisions as a leader if you are one.

    Lord Wolfstein Sunday, 31 December 2017 12:08 PM

    In almost all countries, banks are changing damaged banknotes as far as the banknote is more than the half

    Chandra Siri Sunday, 31 December 2017 12:48 PM

    Wish elections held here every three months so that masses won’t be forgotten.

    ceylon Sunday, 31 December 2017 01:13 PM

    same way you instruct to justice department to do the hearings quicklyjail the biggest theives and recover the hunndreds of stolen billions. via DM Android App

    GOOD SMARITAN. Sunday, 31 December 2017 01:55 PM

    REALLY HON PRESIDENT HAS. UNDERSTAND THE REAL SITUATION. OF THE CITIZENS OF THE COUNTRY. OTHERWISE MOST OF THE PEOPLE WOULD HAVE BEEN MADE SUFFER. via DM Android App

    Herath Sunday, 31 December 2017 02:50 PM

    So please dont print photos of politicians on money, as some idiot did before....

    FUCKA palanaya Sunday, 31 December 2017 04:18 PM

    day by day cheating job started...falling in more love with banana republic to get the poor votes. But people are not fool as you promised in 2015. We will make right choice. SO WE DONT NEED YOUR LOVE AT THE LAST MOMENT BEFORE THE ELECTION. WHEN WE WANTED WHERE YOU WERE?

    chan Sunday, 31 December 2017 04:37 PM

    As now election period, MS wants only marks. good good go a head.

    ceylon Sunday, 31 December 2017 04:35 PM

    no instructions to catch multy billion doller currency theives. via DM Android App

    Chams Sunday, 31 December 2017 07:00 PM

    Since he does not know and do his job, he folk his finger in things like this for political mileage! Loser!

    Kiri Banda Sunday, 31 December 2017 07:20 PM

    Mr President, Why are you fingering around in areas you have no clue about. Why not instead ensure fertiliser to the raja rata farmer - a subject you are familliar with.

    Sajja Monday, 01 January 2018 06:45 AM

    Just try do your best how much you can do.


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