People's Bank joins guarantee scheme for pawning advances
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Director, Regional Development, CBSL, M. J. S. Abeysinghe
and CEO and GM, People’s Bank, N. Vasantha Kumar sign the
MoU. Central Bank and People's Bank officials look on. |
People's Bank recently joined the guarantee scheme initiated by the
Central Bank of Sri Lanka for pawning advances. The agreement in this
regard was signed between the two institutions at the Regional
Development Department of the Central Bank.
The guarantee scheme covering pawning advances will enable the Bank
to continue its financial assistance programs towards the farming
community and micro, small and medium scale entrepreneurs, who will
receive financial assistance at concessionary rates of interest to carry
on their business and other economic activity.
The scheme will facilitate the granting of an additional 15% loan
quantum over and above the usual advances made on gold pawning by the
Bank at present.
Accordingly, the special guarantee scheme allows the Bank to grant up
to Rs. 500,000 at an annual interest rate of 15% for pawning advances.
This scheme will particularly support those who are involved in
agriculture and small-scale commercial ventures.
Director, Regional Development, CBSL, M. J. S. Abeysinghe, Additional
Director A.M.R.K. Attanayake, Deputy Director E. H. Mohotti, Senior
Assistant Director D. M. K. B. Dunuthilake, Assistant Director B. M. J.
Wijesundara, CEO and GM, People's Bank, N. Vasantha Kumar, DGM, Retail
Banking, Ms. Renuka Jayasinghe and DGM, Operations, Boniface Silva were
also present. |
