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‘Half of population in CRIB; Moving away from bankruptcy is a dream’

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Credit Information Bureau of Sri Lanka General Manager Pushpike Jayasundera has told the media that more than half of the population in Sri Lanka have been recorded in the Credit Information Bureau (CRIB) and therefore, they cannot get a loan from a recognized financial institution.

Mr. Jayasundera also said that the reason for this is the lack of knowledge about debt management of Sri Lankans compared to other countries in the South Asian region.

He pointed out that although many people have paid their loans and lease installments properly, some financial companies have not updated the information.

In order to correct this situation, Sri Lanka Credit Information Bureau has taken many steps to educate the people about debt management.

The General Manager said that any person has been provided the facility to obtain their credit information report through the website http://www.crib.lk without going to a financial institution.

Meanwhile, economic experts pointed out that although the CRIB is a tool to protect the credit and banking system, it has posed a great challenge to the country when moving away from bankruptcy.

CRIB information has especially affected the growth of informal transactions in Sri Lanka.

Since a person who has their information recorded at CRIB is unable to get a loan from the banking system, they resort to alternative investments methods eventually even destroying their business.

They pointed out that it also leads to an increase in suicides.

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India in talks with Sri Lanka to acquire graphite mines

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India is in talks with Sri Lanka to acquire graphite mines in the island nation.

The demand for graphite is steadily increasing, as it is the most common material used for anodes in lithium-ion and other batteries.

The Indian government had discussions with the government of Sri Lanka on acquiring graphite mines there, sources said.

(PTI)

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Karapitiya Hospital to be a National Hospital

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The Cabinet has approved the proposal to develop the Karapitiya Teaching Hospital as a National Hospital.

Speaking at the weekly cabinet briefing that took place today (May 23), Cabinet spokesman Minister Bandula Gunawardane said that this will be the third National Hospital in addition to the two National Hospitals in Colombo and Kandy.

The relevant Cabinet paper had been presented by Health Minister Ramesh Pathirana.

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36,900 power breakdowns due to inclement weather

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The Ceylon Electricity Board has reported over 36,900 breakdowns resulting in power interruptions to more than 300,000 consumers in the last 3 days due to inclement weather, says Power and Energy Minister – Kanchana Wijesekera.

Taking to X, the minister notes that additional service staff has been assigned to attend the breakdowns and the CEB management & service staff are working 24 hours to restore power to the affected consumers.

If consumers are unable to repot power interruptions through the CEB hotline 1987, they can use the SMS option to 1987 with BD and the electricity consumer number to follow, use the CEB Care app or through http://cebcare.ceb.lk, he adds.

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