Disgruntled depositors, in yet another development to the Golden Key (GK) Credit Card Company Ltd’s repayment fiasco, now say that some calculations and financial data included in the Central Bank’s plan of action to provide relief to GK depositors are inaccurate. They told the Business Times that certain calculations made in the plan were based [...]

The Sundaytimes Sri Lanka

GK depositors President to stop Central Bank action plan

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Disgruntled depositors, in yet another development to the Golden Key (GK) Credit Card Company Ltd’s repayment fiasco, now say that some calculations and financial data included in the Central Bank’s plan of action to provide relief to GK depositors are inaccurate.
They told the Business Times that certain calculations made in the plan were based on false and wrong data in addition to the reduction of rebate.

This has caused a total loss of Rs. 3.5 billion for over 9000 depositors, they alleged.

They also noted that the there was no realistic assessment assets of the GKCC company in the new action plan.

In a letter signed by President of the GK Depositors Hope and Solidarity Organisation, Jude Marco Perera and Secretary of the GK All Depositors Association Malcom De Silva to President Mahinda Rajapaksa, depositors have pointed out that the new plan is aimed at providing benefits for a few privileged depositors who have already obtained massive loans using credit cards.

They urged the president to intervene into this matter once again and provide reasonable solution to this matter canceling the Central Bank’s plan of action.

Another depositor also referred to this as “pushing people against the wall,” and added that they had not been given enough time to study the plan and make their suggestions.




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