Parate executions or the foreclosure on default loans by banks, would not cover micro enterprises whose borrowings are less than Rs. 1 mn as at March 31.
rnrnEntrepreneurs whose borrowing does not exceed Rs. 500,000 as at March 31 are also eligible for the package under the government
quote s 100-day programme.
rnrnDeputy Finance Minister, Bandula Gunawardene told reporters that they have also requested banks to allow a 100 days moratorium on interest payments.
rnrnldblquote There will not be a change in banks
quote provisioning requirements,
dblquote he said. Under the present banking laws, all banks are required to provide for loans, which default for over three months.
rnrnldblquote We are aware of the high level of non performing loans in the banking sector. The large non-performing loans not covered under the proposed relief package can be pursued by banks using their normal channels,
dblquote Treasury Secretary, Charitha Ratwatte said.
rnrnldblquote Banks are also free to follow their own i