Lowest default rate at Samurdhi banks

Irangika RANGE

COLOMBO: The Samurdhi Bank has become a most reliable partner especially for the rural community and it has maintained a very low level of defaulted loans which is only 5.7 per cent.

Nation Building and Estate Infrastructure Development Minister Rohitha Abeygunawardena told the Daily News that this is a significant feature of Samurdhi bank because all Government and private banks’ defaulted loans amounts were above 10 per cent.

The bank’s deposit network has recorded 2.3 million accounts islandwide. It is the only bank which does not require a guarantee when applying for the loans.

The Bank has already released Rs.26,390 million for beneficiaries. We have planned to implement proper strategies to make efficient use of the Samurdhi movement for the betterment of Samurdhi beneficiaries.

Information technology will be provided to Samurdhi banks for the providing of efficient service.

Samurdhi officials and managers’ contributions will be obtained to develop villages under the Gama Neguma project.