Sat, 25 Mar 2023 Today's Paper

Central Bank says flood-hit borrowers not receiving announced concessions

14 August 2017 09:38 am - 0     - {{hitsCtrl.values.hits}}


Flood-affected borrowers are not aware of credit concessions they are entitled to, and have not received these benefits, the Central Bank said. 

“Based on the information received by the Central Bank of Sri Lanka, many borrowers who have been affected by the recent floods are not aware of this concessionary scheme and therefore, have not received these concessions,” the bank said in a statement. 

This May, the Central Bank requested banks  to provide a 3-month moratorium on loans taken by borrowers who were affected by the floods during that month. 

Nearly 700,000 people were affected by the floods.

Further, the Central Bank requested banks to waive penal rates on overdue and non-performing loans of flood-affected borrowers who had shown willingness to settle these loans during the 3-month moratorium as well. 

These actions were to be taken by banks on a case-by-case basis. 

However, these instructions were issued through a circular and not a binding directive. 

The Central Bank last week asked flood-affected borrowers to contact their bank branches with regard to borrowings concessions. The moratorium will effectively end on the 29th of this month for borrowings as at May 25, 2017.


  Comments - 0

Add comment

Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.

Reply To:

Name - Reply Comment

Import of South Indian eggs: Sri Lanka walks on Indian eggshells

With the increase in egg prices the government decided to import eggs to regu

Wokeism: Is it destructive, or are you afraid of change? A response

In order to critically discuss a movement, we must first understand its etymo

Defeat in Ananthapuram Battle denoted the LTTE’s end

Many battles were fought during the long war between the Sri Lankan armed for

Wokeism: A Weapon of Mass Destruction?

When can one say they’ve had enough of being in a state of ‘wokeness’ a