India’s ICICI Bank’s branch in Sri Lanka, located in Colombo, is closing its operation, it was announced on Friday. No reason was given for the closure.
In a statement, the Central Bank said its Monetary Board having considered the request made by the ICICI Bank Ltd, India, has granted approval to close down business operations of ICICI Bank Ltd in Sri Lanka and cancel the licence issued to it in terms of the provisions of the Banking Act, No. 30 of 1988, subject to several terms and conditions.
“Upon the Director of Bank Supervision being satisfied with ICICI Bank Ltd complying with the terms and conditions imposed by the Monetary Board, the licence issued to ICICI Bank Ltd to carry on banking business, will be cancelled with effect from October 23.
My memory takes me back to 1979, to a moment etched in time when a strikingly tall and impeccably dressed military officer, a Master in charge of Cadeting at Prince of Wales College commanding a guard of honour presented to President J.R. Jayawardene by the cadets of 3CCC, consisted of Ananda, Nalanda and Prince of Wales Cadet platoons at the Prince of Wales College grounds.
An American national, who had been staying in Sri Lanka for nearly ten months without a valid visa while using a Sinhala name under his American passport, was arrested by the Tourist Police of the Kandy.
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