‘More fruitful service from State banks’

Katugastota group corr

The Government has taken steps to further strengthen State banks to enable them render a more fruitful service to the people, said Senior Minister for International Monetary Cooperation Dr Sarath Amunugama. He said so after opening the 328th branch of the People’s Bank to commemorate its founder late Minister T B Ilangaratne at Hataraliyadde on Sunday.

The Minister said this is in sharp contrast to the policy of the past UNP Government which planned to strengthen private banks at the expense of State banks.

Dr Amunugama said under the Mahinda Chinthana program the Government had always strengthened the State sector including the State banks and revived State institutions which showed signs of crashing.

He said State banks rendered a vital service to people throughout the country including city folk and villagers.

In future these banks will issue self-employment loans of Rs 10,000 to housewives without any collateral to enable them start homegarden vegetable plots as a bulwark against any possible future food shortage in the country.

Finance and Planning Deputy Minister Geethanjana Gunawardena also spoke. A statue of late Minister T B Ilangaratne was also unveiled at the Bank premises.

People’s Bank Chairman U G Karunajeewa and Udaya Ilangaratne were also present on the occasion.