PM tells banks to go easy on borrowers

Prime Minister Mahinda Rajapaksa, who is also the Finance Minister, has told Sri Lanka’s bank chiefs to follow a lenient policy when giving out loans.

He also told the banks to follow a suitable method to assist those who cannot apply for loans, due to their names being mentioned in the list of Credit Information Bureau (CRIB), for being a guarantor for a credit facility that has gone into arrears. 

Banks were further told not to inconvenience the borrowers, who were unable to pay their loans and those who apply for new loans.