Govt. shouldn't steer commercial banks to bankruptcy: Gammanpila

7 August 2018 04:04 am - 13     - {{hitsCtrl.values.hits}}


The government should not influence commercial banks for political projects leading them to bankruptcy, Pivithuru Hela Urumaya (PHU) leader and MP Udaya Gammanpila said yesterday.

Addressing a news briefing, he said the Central Bank (CB) had requested the heads of commercial banks to join the national ‘Gamperaliya’ programme by granting loans up to Rs.100,000 without any collateral.

“CB officials including its governor have made this proposal to several commercial banks on July 26. However, bank high-ups have refused the request saying bad debt accumulated from such loans will burden them, thereby passing it on to State banks,” he said.

Moreover, MP Gammanpila said commercial banks were negative in increasing the loan limit for pawning jewellery in a bid to improve the currency in circulation.

“Commercial banks don’t want to increase the loan limit for pawning jewellery because they have concerns over how helpless depositors will become when gold prices reduce,” he said.

On a different note, he said the 15% interest granted to deposits made by senior citizens may be terminated in the future.

“The Central Bank bears the difference between the current interest rate and the 15% granted to senior citizens. However, it has not been practised for six quarters,” he said. (Lahiru Pothmulla)

  Comments - 13

  • truth Tuesday, 07 August 2018 04:23 AM

    Can a office messenger in australia understand banking !!!

    Dhammika Tuesday, 07 August 2018 06:23 AM

    Has this man UG gone insane . First he played HORA and now playing POLICE . What is he up to playing HORA POLICE ! .

    Dee Tuesday, 07 August 2018 06:24 AM

    Correct. Such as getting them to finance chopper purchase etc. Very correct.

    Dee Tuesday, 07 August 2018 01:25 PM

    Probably the 5 guys who commented negative are working for that bank and part of processing the facility. What happened? Flying high now?

    Gamaya Tuesday, 07 August 2018 06:35 AM

    This coming from a shameless thief who swindled an elderly Australian couple who fed, paid his tution fees and gave him employment while in Australia.

    thangiah Tuesday, 07 August 2018 06:38 AM

    has he repaid the money cheated from an Australian ???

    Pluto Tuesday, 07 August 2018 06:46 AM

    For a cheat and a fraud he talks too loud!!!

    ANTON Tuesday, 07 August 2018 07:12 AM


    Kumara Dharmarathne Tuesday, 07 August 2018 08:42 AM

    Mr. Gammanpila, without making a foul cry over everything, Can you tell your phenomenal leader MR to submit an affidavit regarding US$ 7.6 million issue, as you usually challenge other people to do? What happened to your legal theory?

    yahiya Tuesday, 07 August 2018 08:49 AM

    Banks are the making more profit than depositors. Need some changes. Banks are well paid to this thieves.

    dulan Tuesday, 07 August 2018 08:59 AM

    However bad the economy is most of the top private banks make increasing profits annually no chance of going bankrupt

    Lankan .in USA Tuesday, 07 August 2018 12:59 PM

    He is the biggest thief.

    james de silva Tuesday, 07 August 2018 04:42 PM


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