Institution obtains Rs. 7 bn loans from two State banks using same security: Sajith

24 November 2023 02:55 pm - 12 - {{hitsCtrl.values.hits}}

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BY AJITH SIRIWARDANA AND YOHAN PERERA

Parliament, Nov.24 (Daily Mirror) Revealing that a certain private institution had obtained a loan amounting to Rs. 7 billion from the Bank of Ceylon and People's Bank using the same security, Opposition Leader Sajith Premadasa today urged the government to disclose the names of the first ten borrowers of the two State banks who had defaulted massive amounts of loans.

Raising a question under Standing Order 27(2), he said people doubted whether the two State banks were not recovering the loans granted to individuals and institutions that had obtained loans in massive amounts.

"The main income of a bank is the interest charged on loans. The bank will run into a liquidity crisis if the loans given to large-scale borrowers are not recovered," he said.

The Opposition Leader urged the government to disclose the names of the first ten individuals or institutions that had obtained loans of massive amounts from the two State banks and defaulted them, the amount of the loans they had obtained and whether a decision had been taken to waive off their loans or interests.

He said powerful individuals, large-scale industrialists and companies were treated differently while the property of the micro, small and medium scale businessmen were being auctioned under Parate law for defaulting loans.

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Comments - 12

rohan Friday, 24 November 2023 03:31 PM

As long as we have the corrupt political culture in this country, none of those individuals or institutions will be revealed.

Rt Friday, 24 November 2023 06:25 PM

Wonder what security the banks have accepted in releasing the funds? After all they too have to be answerable.

Sam Friday, 24 November 2023 08:04 PM

Why not take the parliamentary privilege and reveal the names if you such good information who these people are.

Lion Friday, 24 November 2023 06:31 PM

If you look in to banking details of the people of your side same picture will appear as of the people you are criticizing now.

sss Friday, 24 November 2023 07:16 PM

As usual no names named when it come to mega corruption. Beside Sajith may know this is the standard procedure in SrI lanka. I think Sajith also voted against then MP Ranjan's resolution to expose those who obtained bogus loans from state banks

Rienzie Wannithantrio Friday, 24 November 2023 10:46 PM

Further, Peoples Bank is Screwing The Pensioners Living Abroad With enormous Bank Charges. The last TT of $. 548 /= was collard with a Charge Of Rs.5.358.97. Where as it was Rs.2350/- Peoples Bank Playing Santa Claus Presenting Lap Tops ETC!!! May Be Sajith has missed THE BUS

Rienzie Wannithantrii Friday, 24 November 2023 11:00 PM

Dear Editor. Thank You, Thank You !!! For entertaining Facts

Indra Dasa Saturday, 25 November 2023 06:26 AM

Many of them are friends or close friends or political party members of Ranil (UNP ) / Rajajapasha (POHOTUWA ) who also involved hand in hand for the current economic situation in Sri Lanka .

Sarath Silva Saturday, 25 November 2023 07:53 AM

As it's being a commercial loan, hope the Bank did not lend > 60% - 70% of the security values based on the independent valuation report of the security assets. In this scenario it seems like the Banks who has lent they do not have proper lending policies and procedures in place also T

Nimal Saturday, 25 November 2023 08:00 AM

Day by day, people who left this country for better life overseas become happy for leaving. Is this the country those so-called patriots and religious leaders ask people to stay in? Whoever comes to power, this country will never change. Worse still, voters in this country will never change either, they will keep electing those rogues after listeningto their angel talks again. Name a single country where MPs found guilty from a court decision still enjoy privileges as MPs undeterred without going to jail. Only this wonderland.

Abd Sunday, 26 November 2023 06:52 AM

You should come out of names, without hide them, in parliament, otherwise those rogues they will ready to give hefty amounts to your party funds to cover it up,

Des Sunday, 26 November 2023 02:22 PM

This is actually possible within the system . If the property valuation covers the total borrowing (usually 65pct of the value can be borrowed) a primary and a secondary mortgage can be offered to 2 differrent banks. Must give more details for clarity

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Institution obtains Rs. 7 bn loans from two State banks using same security: Sajith

Comments - 12

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