Committee appointed to probe irregularities at State banks during past five years

The Ministry of Finance says a committee has been appointed to probe alleged malpractices and unproductive measures and transactions that took place at State banks during the past five years. 

The committee has been tasked with looking into illegal and irregular activities, instances of non-compliance with the provisions and procedures of the Banking Act and ineffective actions and transactions that occurred in State banks including Bank of Ceylon, National Savings Bank, People’s Bank and Regional Development Bank.

The four member committee is headed by former High Court Judge Sisira Ratnayake. Other members are Chartered Auditor Susantha De Silva, retired Additional Auditor General W. Primananda. A representative from the Ministry of Finance will function as the Secretary of the Committee/ .

The committee has been asked to submit a report within three months. The report, along with the committee's recommendations, will be handed over by the Finance Ministry Secretary to the Cabinet.