Cabinet nod to probe alleged misdeeds at state banks

Cabinet had given its nod to a paper submitted by Prime Minister Mahinda Rajapaksa as his capacity of being the Minister of Finance to probe all alleged misdeeds of state banking network that had taken place during the past years.

The paper also sought to further strengthen the state banking network.

“The state banks including the Bank of Ceylon, Peoples Bank, National Savings Bank and Rural Development Bank will be prepared and shaped to meet the challenges brought on by the COVID -19 pandemic while misdeeds that had taken place these banks since January 8, 2020 will also be probed. A study will also be conducted to determine whether these banks have violated the Banking Acts and whether they have carried out non-productive activities during the given period as per the cabinet paper,” a release from the Finance Ministry said.

“Another objective of the cabinet paper is to determine as to which officers are responsible for misdeeds and also the external forces which have been involved in them and to ensure that there will not be any misdeeds in the future.

Former High Court Judge Sisira Ratnayake, Certified Accountant Susantha de Silva, Retired Additional Auditor General W. Premananda will be included in the committee appointed to conduct the probe.