People’s Bank ‘SisuUdana’ awards scholarships worth Rs.20mn to Grade 5 students

SisuUdana student seminar for the grade five scholarship examination

People’s Bank will be awarding the students and ‘SisuUdana’ accountholders, who excel at the grade five scholarship examination, with scholarships amounting to Rs.20 million. To support gifted students who secure the top spots at national and district level, People’s Bank will  award these students special scholarships and gifts to bide them well in to their tertiary education. 

Students placed all-island first, second and third will be awarded with cash prizes of Rs.150,000, Rs.125,000 and Rs.100,000, respectively and at a district level, students who place first, second and third from every district will be awarded with cash prizes of Rs.25,000, Rs.20,000 and Rs.15,000, respectively. 

Moreover, based on district wise performance, scholarships worth Rs.5,000 will be gifted to 2000 ‘SisuUdana’ account holders who attain scores beyond the pass mark from each district. This ‘SisuUdana’ initiative will also contribute monetarily to the schools which enrol students who are placed first from each district.

Lionel Galagedara - Deputy General Manager, Retail Banking, People’s Bank commented on this initiative saying, “This initiative has been carried out since 2008 and is aimed at uplifting the access children have to education whilst instilling a habit of saving at a young age. In line with this mandate, People’s Bank has been gifting prize money to high-achievers at the year five scholarship, Ordinary and Advanced level examinations. I firmly believe it is our responsibility as an institution to continue this work to propel our economy forward. People’s Bank surpasses this responsibility by providing a host of financial solutions to students’ right up to their tertiary education.”
By the 30th of September 2016, ‘SisuUndana’ account holding students who successfully get through the scholarship exam (based on the district-wise pass mark) with a minimum account balance of Rs.5,000 are also entitled to apply for these scholarships. Once results are published, eligible students can head over to the People’s Bank branch that originated their ‘SisuUdana’ savings account and submit the relevant form.