BoC allocates Rs. 27.5 m annually on Ran Kekulu schols and insurance cover

The Bank of Ceylon (BoC) allocates funds to grant scholarships worth Rs. 10,000 each for 1,250 children with Ran Kekulu savings accounts, who secure the highest aggregate marks at the grade 5 scholarship examination, every year.

Every child who maintains a minimum balance of Rs. 2,500 in the Ran Kekulu savings account is entitled to Rs. 5 lakhs worth insurance cover and Rs. 1 lakh medical insurance cover.

Scholarships were awarded to 130 Ran Kekulu account holders who secured the highest aggregate marks at the scholarship examination in 2007 was held recently at the Bank of Ceylon Head Office auditorium.

Minister of Finance and State Revenue Ranjith Siyambalapitiya participated was the Chief Guest. Bank of Ceylon Chairman Dr. Gamini Wickramasinghe said that Rs. 15 million is spent annually on this Insurance cover and Rs. 12.5 million, on Ran Kekulu scholarships.

The Minister said that the benefits offered for EKG A/Cs would encourage children a great deal and thanked the Bank Chairman and the management for their endeavours.