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| Tuesday, 28 October 2003 |
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by Nadira Gunatilleke The secure cheque clearance system will be introduced in Sri Lanka by Lanka Clear Private Limited before the end of this year to speed up banking services. Although this firm will maintain and manage this system, the system rights will be shared by the Central Bank with the other commercial banks, a Government Media Unit spokesman said. He said that developed countries avail this modern technology and handle large deadlines in a short time. The importance of speedier cheque clearance system is identified as an essential aspect in the Government's national project on streamlining and improving the economy. Cheques deposited in Galle, Matara and Badulla which are far from Colombo now take more than a week for clearance, but with the introduction of the latest technology, a cheque deposited in Batticaloa will take only a maximum of two days for clearance. A cheque deposited in an outstation bank has to be sent to Colombo by post or by other means. |
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