Total of Rs. 61.8 Bn lost by 256,286 depositors - State Minister of Finance

21 January 2021 03:48 am - 6 - {{hitsCtrl.values.hits}}

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Six finance companies have fallen in Sri Lanka during the recent years, swallowing a total amount of Rs. 61,892 million (Rs 61.8billlion) belonging to 256,286 depositors, State Minister of Finance, Money and Capital Markets and State Enterprises Ajith Niward Cabraal told Parliament yesterday.

Responding to an oral question raised by SJB MP Hesha Withanage the State Minister said Central Investment and Finance had lost Rs. 3,960 million, Standard Central Finance Rs. 2,721 million, TK Finance Rs. 2,691 million, ETI Rs. 22,648 million, Swarnawahini Finance Rs. 2,372 million and The Finance Company Rs. 27,400 million. Some 20,161 depositors at Central Investment and Finance, 6,600 at

Standard Central Finance 35,164 of TK Finance, 147,152 in The Finance, 37,586 depositors in ETI and 9,623 in Swarnawahini Finance have lost their deposits as a result of these institutions going bankrupt.

He said there are 41 non-banking financial institutions while there are six which hold licences issued by the Central Bank. “We will see that justice is meted out to these depositors who have lost ,” the State Minister assured. (YOHAN PERERA AND AJITH SIRIWARDANA)

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Comments - 6

Rasika Thursday, 21 January 2021 07:36 AM

All together SL Central Bank playing games or sleeping???. Shame.

Sambo Thursday, 21 January 2021 07:36 AM

So was the central bank sleeping when they seen these illegal companies were in business. I believe officers of the central bank were bribed for these companies to run and cheat the public.

Ajith Devaditya Thursday, 21 January 2021 11:20 AM

No Really?

Ranjjith Hettige Thursday, 21 January 2021 04:54 PM

what about the Golden key depositors.

Ahmed Booso Friday, 22 January 2021 02:27 AM

Reasons those I see for this are, corruption, inefficiency, Political involvements, for the higher positions incompatible and unsuitable individuals being appointed. Most of the depositors are senior citizens. It was too much to bear and some of them already passed away while the others are cursing with tears. End of the day those figures are innocent citizens hard earned money blended with a lot of sacrifices. I hope justice would serve them.

Jude Dilan Martus Friday, 22 January 2021 02:56 AM

Sir , we deposited in The Finance because we were told that TFC is under CBSL appointed Directors and all operation under their directions. because it is our state Bank we did not have any doubts.

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Total of Rs. 61.8 Bn lost by 256,286 depositors - State Minister of Finance

Comments - 6

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