“Allow maximum concessions to indebted entrepreneurs”
Considering the ongoing economic crisis, State Minister of Finance Ranjith Siambalapitiya requested the state bank heads to allow maximum concessionary period to the entrepreneurs who have taken loans.
He told them to consider allowing concessions while protecting the financial conditions of the banks.
While taking part in a discussion at the ministry with the heads of state banks, he mentioned that some entrepreneurs have been affected by the fact that banks have raised their interest rates to protect liquidity.
The Minister said that although necessary measures should be taken to protect the banking system, it is also extremely important to protect businessmen.
Therefore, he requested the heads of the banks to look into the possibility of allowing relevant concessions following the guidelines laid down by the Central Bank of Sri Lanka (CBSL), and also requested the state banks to inform the Ministry about the steps taken in this regard.