Regulatory Alerts2015-04-15 | 02/04/002/0015/002Expanding Access to Banking
The Central Bank of Sri Lanka directs licensed commercial and specialised banks to implement four key measures from the Interim Budget 2015 aimed at expanding financial inclusion. These mandates require institutions to establish branches in remote areas, waive minimum initial deposits for new accounts, register all citizens for direct grant disbursements, and simplify lending regulations by September 2015. Bank executives are instructed to take appropriate operational steps to ensure full compliance with these accessibility and efficiency initiatives.
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