SME borrowers told to inform banks before Jan 31 to gain benefits
January 20, 2020 06:19 pm
The government has imposed a deadline for Small Medium Enterprise (SME) borrowers to inform their banks in order to receive the benefits from the debt relief package, stated the Ministry of Finance.
Accordingly, SME borrowers who have obtained loans under Rs 300 million are to inform the bank branches they borrowed from before the 31st of January.
Under the debt relief package introduced by the government, have suspended banks from taking legal action or imposing fines against those who have failed to pay off their debts.
The Central Bank of Sri Lanka (CBSL) has issued a circular to all commercial banks on the implementation of this debt relief package.