News

CB extends actions taken on troubled TFC

15 May 2019 - 171   - 0

The Monetary Board of the Central Bank of Sri Lanka (CB) has decided to extent by another three months from May 15, recent actions taken in connection with the troubled The Finance Company PLC (TFC).

Announcing this decision on Wednesday, the CB said it had initiated a number of regulatory actions, as temporary measures on TFC with effect from February 15, 2019, with a view to safeguard the interests of the depositors and other stakeholders of the company. 

“Regulatory measures include suspension of accepting new deposits, withdrawal of deposits and disbursement of loans and advances to facilitate the restructuring process of TFC,” it said adding that the extension was given in order to consider the business restructuring proposal submitted by the company. Interest due on deposits will be paid continuously. - ENDS -

 

  Comments - 0

  • Leave a comment



Top Stories

Traffic along Southern Expressway impeded after container truck topples

Transportation along the Southern Expressway has been impeded after a container truck toppled between Kahathuduwa and Kottawa today (Jul 17). ...

17 July 2019 - Views : 29

Prisoners’ rights group call for mechanism to grant those in remand the right to vote

17 July 2019

AG calls for Acting IGP's report on arrest of two suspects in Avant Garde case

17 July 2019

Water cut in Gampaha on Friday

17 July 2019



style="display:inline-block;width:300px;height:250px"
data-ad-client="ca-pub-6200193111498313"
data-ad-slot="1999573490">

 

Features & Analysis

Car-free day draws a crowd

Colombo’s first open street concept day saw residents reclaiming their streets from Green Path to Independ...

Reviving our island spirit - #DineEscapeRebuild

The Island Story, a brand new travel company with a fresh perspective on travel is collaborating with Botanik Rooftop...

Huawei shutterbug competition "Beautiful Sri Lanka" ends on a high

Huawei recently organized a competition for shutterbugs under the theme "Beautiful Sri Lanka" The w...

Hidden coral reef discovered off Kankasanthurai harbour

A diving team attached to the Northern Naval Command recently discovered a beautiful coral reef which remained a well...



style="display:inline-block;width:300px;height:250px"
data-ad-client="ca-pub-6200193111498313"
data-ad-slot="1999573490">