Lower interest rates on priority sectors - Kotalawala

With a view to support the economic growth of the country in line with the recent reduction in overall market interest rates, the financial institutions of Ceylinco Consolidated will reduce the interest rates on selected priority sectors.

These will include agriculture, livestock, farming and small and medium industries and export oriented organisations, Deshamanya Dr. Lalith Kotelawala Chairman Ceylinco Consolidated said.

This would help to enhance the development of the Sri Lankan economy and up lift the living standards of the people.

Given the emphasis on growth of the export sector and inward remittances, Seylan Bank, will monitor and pay higher interest rates on NRFC deposits and facilities against NRFC will be selectively reduced.

It will also promote inward remittances in order to boost foreign currency balances in line with the Government's initiatives.