Golden Key 2nd stage repayment of Rs. 4 b gets Cabinet nod

Friday, 16 October 2015 00:03 - - {{hitsCtrl.values.hits}}

The Cabinet has approved the second stage payment of Rs. 4 billion under the Golden Key Credit Card repayment program for depositors.

This was on a proposal made by Finance Minister Ravi Karunanayake.

The second stage will cover depositors holding deposits from Rs. 2-10 million. Cabinet also approved the release of funds from Treasury to the Central Bank and reimburse the Treasury by liquidation of assets of GKCCCL.

Previously the Cabinet approved Treasury to release Rs. 544 million for deposits worth less than Rs. 2 million.