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| Tuesday, 8 February 2005 |
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Susahana applications top Rs. 1700m Banks and financial institutions have registered 1,306 applications amounting to Rs.1,730 million with the Central Bank up to yesterday. Considering the representations of the lending institutions, amendments have been made to the scheme with immediate effect. In order to facilitate the quick restoration of the small hotel sector, the quantum of the loan under this scheme has now been increased from Rs.5 million to Rs.10 million for small hotels which are not secured by insurance. The borrower eligibility criteria have been amended by permitting lending institutions to use their discretion to entertain loan applications from past due borrowers.Borrowers are required to provide evidence by way of restoration certificates acceptable to lending institutions only in respect of immovable property. |
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