Snags in SLSB

The Pramuka Depositors Association (PDA) and top Treasury brass on Friday rejected the proposal presented by Central Bank officials and Sri Lanka Savings Bank (SLSB) Chairman Jagath Wickramasinghe to revive Pramuka Bank in the form of SLSB.

“The depositors will not accept the proposal put forward by the SLSB and Central Bank officials because they were vague,” K. C. Vignarajah, Chairman, PDA who was at the meeting told The Sunday Times FT.

He said Dr. Ranjith Siyambalapitiya, Deputy Minister - Finance, Dr. P. B. Jayasundera, Treasury Secretary and Jathika Hela Urumaya MP, Ven. Rathana Thero who participated at the meeting also took the PDA view and requested a fresh presentation. “They said this was not the agreement and the concepts for SLSB, were accepted last July, “Vignarajah said, explaining that the presentations were very vague and negative.

“There were many grey areas as well as negative areas on the depositors’ liabilities, interest rates, etc,” he said, adding that details of SLAB were not properly fleshed out. He said that next week exact details and framework of SLSB, according to the initial accepted form will be presented.