State Minister for Finance Ranjith Siyambalapitiya said that the lending capacity of commercial banks will increase by 20,000 crore rupees from next week.
Mr. Siyambalapitiya also said that the lending capacity of commercial-grade banks will increase as the percentage of deposits to be maintained by commercial-grade banks at the Central Bank has been reduced from 4% to 2%.
The Monetary Board of the Central Bank of Sri Lanka met recently and decided to lower the percentage of money to be deposited in the Central Bank by commercial-grade banks and to implement it from the 16th.
The central bank also states that because of that decision, more money will accumulate in the commercial-grade banks, and they will be able to provide them as loans to the customers.
