People’s Bank launches banking service promotion ventures

Nimal Wijesinghe Anuradhapura additional district group correspondent

The People’s Bank has launched two banking service promotion ventures in the fields of housing construction and small and medium, industrial and entrepreneurial loan schemes to coincide with the Anuradhapura district Deyata Kirula - 2012 overall infrastructure development plan.

The housing loan scheme is jointly implemented under the patronage of Housing Construction Minister Wimal Weerawansa and People’s Bank Chairman W Karunajeewa, as instructed by President Mahinda Rajapaksa.” Already Rs 100 million has been allocated for granting ‘Deyata Kirula’ middle class housing loans up to Rs 500,000 for house repairs, completing half constructed houses and purchasing materials etc.

The relief interest will be 10 percent while a 10 year period is granted for the settlement of the loan facility which are exceptional conditions,” emphasized the People’s Bank’s North Central Zonal Assistant General Manager W M S Weerakoon.

In the meantime as pledged by the President in the previous Budget speech – 2012, the third – SME bank branch affiliated to the People’s Bank will be inaugurated parallel to Anuradhapura District Deyata Kirula - 2012 programme.

The Assistant General Manager said that out of 25 bank branches the Colombo and Kurunegala units are now functioning.

“The new SME bank will be of immense service to the small and medium scale entrepreneurs in the Anuradhapura district for upgrading their ongoing business enterprises to a higher position, since the SME is offering easy term loans up to Rs 300 million with technology and guidance provided.

A loan could be granted under the new methodology within two weeks,” Weerakoon said positively.

He said that the business enterprises in industrial and agricultural spheres which would seemingly contribute to the NDP significantly and creating substantial job opportunities would be prioritized in considering for granting loan facilities.

The details of the two banking services promotion ventures could be obtained from the Anuradhapura People’s Bank regional office.