Railway banking launched

The chief financial officer Ravi Dassanayaka cuts the ribbon to mark the first journey. Pic: Iresha Waduge.

LankaPuthra Development Bank (LDB) and Ceylon Government Railway made history by launching Railway banking, the latest concept banking at railway stations and in the compartments of trains.

Railway banking will be developed in five stages which include promotional activities, purchasing a compartment and branding it as LDB, LDB banking window at Railway stations or in a compartment, loans to be disbursed by mobile compartment, and LDB to get involved in the financial management of the CGR.

Assistant General Manager - Commercial CGR Wijaya Samarasinghe said that they hope to make it a long relationship between the two institutions whereby both will benefit. He said that off Nawalapitiya station the only mode of transport is the train and there are no banking facilities in towns such as Inguruoya. Therefore if this concept can be expanded it will be viable and help the customers to use the available banking facilities. General Manager LDB Ranjith Dissanayaka said that LDB supports all from rural to international. Today is a historic occasion and the event coincided with the first anniversary of the Kandy branch.