Regulatory Alerts2017-02-01 | Circular No. 1 of 2017Implementation of Budget 2017 Proposals for Banking Services
The Central Bank of Sri Lanka requires licensed banks to allocate minimum credit percentages to targeted sectors, mandating 10 percent each for SMEs, exports, tourism, and agriculture alongside 5 percent allocations for youth and women. Banks must lend at least 15 percent of locally mobilized deposits within each branch area, expedite loans under Rs. 5 million to be processed within one month, and ensure at least one district branch operates seven days a week. Quarterly sector-wise credit distribution reports must be submitted to the Director of Bank Supervision starting 1 July 2017, with data due within thirty days after each quarter ends.
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