Committee inquiring irregularities in state banks receives over 100 complaints  

  
A special 3-member committee appointed to look into the allegations of irregularities, unproductive measures and instances where actions were taken contrary to the objectives at the four main state banks of the country during the last five years has received over 100 complaints, the Ministry of Finance said. 
The committee was appointed by Prime Minister Mahinda Rajapaksa in his capacity as the Minister of Finance on August 20.
The ministry said in a media release that the committee will receive complaints till September 30 and will submit its report with the recommendations within three months.
The committee is vested with the task of making recommendations to change the legal, financial and administrative actions and processes needed to be taken in order to prevent such issues from arising in the future.
The proposal aims to make the state banking sector a more people-friendly service and to identify the relevant officials and outside parties who are responsible for the financial losses in them.
The committee will formally investigate into irregularities, instances of violating the objectives and procedures of respective institutions, provision of the Banking Act as well as the unproductive activities and transactions at the Bank of Ceylon, People’s Bank, National Savings Bank, Regional Development Bank and affiliated institutions after January 08, 2015.
It will also make recommendations to transform the state banking system into a more people-friendly service.
It is headed by former High Court Judge Sisira Ratnayake and also includes chartered accountant Susantha de Silva and retired Additional Auditor General W. Premananda. A representative of the Finance Ministry serves as the secretary of the committee. (BS)