Banks need to take measures to provide long-standing loans – Central Bank

Banks need to take measures to provide long-standing loans – Central Bank

Banks need to take measures to provide long-standing loans – Central Bank

Written by Bella Dalima

22 May, 2014 | 6:55 pm

The Central Bank of Sri Lanka says that in a backdrop where inflation and interest rates are maintained at a lower rate, banks need to take measures to provide long-standing loans.

Assistant Governor of the Central Bank, C.J.P. Siriwardena made these comments to Biz1st.

On a number of occasions in December 2012, the Central Banks of Sri Lanka decided to lower its policy interest rate with the aim of maintaining an eased monetary policy.

In addition , the Statutory Reserve Requirement to be placed with the CBSL by commercial banks was also lowered from eight percent to six percent.

The Central Bank of Sri Lanka says that over the past one year, the normal loan interest rate which was at 16.36 percent was reduced to 14.44 percent.

 

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