Connect with us

News

Report called over Rs. 68 mn. loss at State Mortgage & Investment Bank

Published

on

A report is also called for regarding the settlement of the loss incurred by the bank by submitting false documents and taking a loan of 68 million rupees and legal action taken.

Instructions to expedite the establishment of a new core banking system.

Instructions to submit the delayed 2021/2022 annual reports before the end of next January.

The State Mortgage and Investment Bank (SMIB) was summoned before the Committee on Public Enterprises (COPE) which met on Oct. 10 under the Chairmanship of MP – Prof. Ranjith Bandara.

The audit reports of the State Mortgage and Investment Bank for the years 2020, 2021 were examined and the current performance was investigated at the Committee meeting held. Officials representing the Ministry of Finance and the Chairman and General Manager of the State Mortgage and Investment Bank were also present at this Committee meeting held. Special attention was paid to the following points.

Delay in establishing a new core banking system

Attention was drawn towards the delay in establishing a new core banking system as per the recommendations given in the previous Committee meeting. Officials assured that these works have already started and will be completed by July 2024.

The need to start operations as a competitive bank

The Committee emphasized the need to improve the operations of the commercial level in order to increase the assets of the bank and reach an advanced level.

The COPE chair pointed out the importance of being close to the public as a competitive bank without completely deviating from the bank’s core objectives. 

Accordingly, the need to establish the bank’s brand among the public in an innovative and attractive manner (rebranding) was emphasized.

The 68-million-rupee loss due to submission of false documents

In 2017, due to the fact that some people obtained loans by submitting false documents, attention was paid to the related activities to cover the loss of 68 million rupees to the bank. 

It was also revealed that this fraud has taken place by giving the relevant loan amount to 49 loan applicants with the help of some officials of the bank. 

Officials stated that 8 million rupees have already been received aligned with legal proceedings and legal measures have been taken to obtain the remaining amount. 

Although 6 years have passed since this incident, officials were punished and the delay in recovering this money was given special attention. 

Accordingly, the COPE Chair ordered the officials to give a report on this within two weeks.

High non-performing loan ratio of the bank

Attention was drawn to the fact that 10 branches have recorded a high non-performing loan rate, exceeding the average value of the non-performing loan rate of the bank. 

The officers pointed out that since the majority of the customers of this bank are middle- and low-income earners, they had to be given grace periods to pay their debts due to the prevailing economic situation. 

Special attention was paid to this and instructions were given to take necessary steps.

State Minister – Janaka Wakkumbura, Members of Parliament – Eran Wickramaratne, Sanjeeva Edirimanna, Major Sudarshana Denipitiya, Madhura Withanage, Prof. Charitha Herath, were present at the Committee meeting held.

News

Israel agrees to ceasefire proposal

Published

on

By

The Israeli government has said it agreed to the ceasefire proposal after “achieving the objectives” of its attacks on Iran.
According to the statement, Israel has removed Iran’s “dual immediate existential threat” from nuclear weapons and ballistic missiles.

It also says Israel has “inflicted severe damage on the military leadership, and destroyed dozens of central Iranian government targets”.

The statement goes on to say that Israeli forces, in the last day, have “severely struck government targets in the heart of Tehran, eliminating hundreds of Basij operatives” – a militia the Iranian government often uses to suppress protests – and “eliminating another senior nuclear scientist”.

“Israel thanks President Trump and the United States for their support in defence and their participation in eliminating the Iranian nuclear threat,” the statement adds.

Earlier, Iran state TV news channel IRINN says a ceasefire has been “imposed” on Israel following the “successful” Iranian attack on the US base in Qatar.

State TV said in a statement that Trump “begged” for a ceasefire following Iran’s attack. The statement was read aloud by the presenter.

The statement also hailed Iran’s Islamic Revolutionary Guard Corps (IRGC) and the Army and praised the “resistance” of Iranians.

The statement also called Iran’s attack on the US base in Qatar as the Islamic Revolutionary Guard Corps’ “successful” response to the US attacking three Iranian nuclear sites, while Qatar said all missiles were intercepted.

(Excerpts : BBC News)

Continue Reading

News

3 including Consultant neurosurgeon, further remanded

Published

on

By

The Colombo Magistrate’s Court today (June 24) rejected the bail applications of 03 suspects, including Dr. Maheshi Wijeratne – a consultant neurosurgeon attached to the Sri Jayewardenepura General Hospital, who were who were arrested by the Commission to Investigate Allegations of Bribery or Corruption (CIABOC).

Accordingly, Colombo Chief Magistrate – Thanuja Lakmali ordered that the suspects be further remanded until July 08.

The three suspects were arrested on June 17 in connection with the alleged sale of medicines at higher prices through a third party.

Continue Reading

News

Colombo Central Bus Stand to be upgraded

Published

on

By

In line with the “Clean Sri Lanka” programme, the government plans to upgrade the Colombo Central Bus Stand within the next year.

In line with the same initiative, 50 major bus stands nationwide are scheduled for renovation, with assistance from the Sri Lanka Air Force.  

The renovation of the Colombo Central Bus Stand will include the refurbishment of key facilities such as the canteen, rest area, ticket counters, administrative unit, operations room and driver quarters.

Established in 1964, the Colombo Central Bus Stand spans 1.42 hectares and currently handles between 1,500 to 2,000 buses daily.

These details were revealed during a discussion held yesterday (June 23) at the Presidential Secretariat on the “Clean Sri Lanka” programme.

The meeting was attended by Minister of Transport, Highways, Ports and Civil Aviation Bimal Rathnayake, Secretary to the President Dr. Nandika Sanath Kumanayake, Air Vice Marshal (Retired) Sampath Thuyacontha, Secretary of Defence, Senior Officers of the Sri Lanka Air Force and other government officials.

(President’s Media Division)

Continue Reading

Trending

Copyright © 2024 Sri Lanka Mirror. All Rights Reserved