News
Six failed finance companies had Rs 62 billion in deposits
By Saman Indrajith
Finance, Money and Capital Markets and State Enterprises Minister Ajith Nivard Cabraal told Parliament on Wednesday that around 62 billion rupees had been deposited by customers in six failed finance companies during the past six years.
Responding to a question raised by Ratnapura District SJB parliamentarian Hesha Withanage, the minister said that 256,306 customers had deposited Rs. 61.79 billion from 2015 to Aug 2020 in those companies.
The failed finance companies were the Central Investment and Finance Ltd (formerly known as Central Investment and Finance PLC), The Standard Credit Finance Ltd, TKS Finance Ltd., The Finance Company PLC, ETI Finance Ltd., and Swarnamahal Financial Services PLC, the minister said.
He said that The Finance Company had 147,152 customers who made deposits amounting to Rs. 27,400 million, ETI Finance had 37,586 depositors with Rs. 22,648 million, Central Investment and Finance had 20,161 with Rs. 3,965 million , the Standard Credit Finance had 6600 depositors with Rs. 2,721 million, TKS Finance had 35,184 with Rs. 2,691 million and Swarnamahal Finance Services had 9,623 depositors with Rs. 2,372 million.
Minister Cabraal tabled in the House the names of the members of the directors of the failed finance companies and the measures had been taken by the Central Bank to assist the depositors in recovering their money.
The minister said that there were 41 financial institutions registered with the Central Bank as of Aug 31, 2020.
Latest News
Level III landslide early warnings issued to the Districts of Kandy, Kegalle, Kurunegala and Matale extended
The landslide early warning center of the National Building Research Organisation [NBRO] has extended the Level III RED landslide early warnings issued to the Districts of Kandy, Kegalle, Kurunegala and Matale until 1600hrs on 11th December 2025.
Accordingly,
The LEVEL III RED landslide warnings issued to the the Divisional Secretaries Divisions and surrounding areas of Kundasale, Pasbage Korale, Medadumbara, Ganga Ihala Korale, Hatharaliyadda, Pathadumbara, Doluwa, Panvila, Gangawata Korale, Ududumbara, Akurana, Yatinuwara, Harispattuwa, Deltota, Thumpane, Poojapitiya, Udapalatha, Udunuwara, Minipe and Pathahewaheta in the Kandy district, Aranayaka, Yatiyanthota, Rambukkana, Bulathkohupitiya and Mawanella in the Kegalle district, Mallawapitiya, Mawathagama and Rideegama in the Kurunegala district, and Rattota, Laggala Pallegama, Ukuwela, Matale, Wilgamuwa, Pallepola, Naula, Yatawatta and Ambanganga Korale in the Matale district have been extended.
LEVEL II AMBER landslide early warnings have been issued to the Divisional Secretaries Divisions and surrounding areas of Uva Paranagama, Hali_Ela, Meegahakivula, Badulla, Kandeketiya, Bandarawela, Soranathota, Ella, Haputhale, Lunugala, Welimada, Haldummulla and Passara in the Badulla district, Warakapola, Galigamuwa, Kegalle, Dehiowita, Ruwanwella and Deraniyagala in the Kegalle district, Polgahawela and Alawwa in the Kurunegala district, Kothmale East, Walapane, Thalawakele, Nuwara Eliya, Kothmale West, Nildandahinna, Mathurata, Ambagamuwa Korale, Hanguranketha and Norwood in the Nuwara Eliya district. and Kolonna, Godakawela and Kahawaththa in the Ratnapura district.
LEVEL I YELLOW landslide early warnings have been issued to the Divisional Secretaries Divisions and surrounding areas of Divulapitiya, Attanagalla and Mirigama in the Gampaha district, Narammala in the Kurunegala district, and Kiriella, Eheliyagoda, Balangoda, Kaltota, Openayake, Nivithigala, Imbulpe, Ayagama, Kuruwita, Kalawana, Elapatha, Pelmadulla and Ratnapura in the Ratnapura district.
News
“We cannot allow flooding to become a part of the daily lives of the people in the Colombo District” – PM
Prime Minister Dr. Harini Amarasuriya stated that unauthorized constructions within the Colombo District, nor any form of residential developments that endanger the public carried out under the guise of development agenda will not be allowed.
The Prime Minister made these remarks while addressing the media at the conclusion of the Colombo District Disaster Management Committee meeting held on Tuesday [December 09] at the Colombo District Secretariat.
Addressing further, the Prime Minister stated:
“The Colombo District has become vulnerable to this extent due to the constructions carried out without any proper planning or understanding of regulations, along with personal and politically motivated decisions that have placed both the district and its people at risk.
Compared to the districts that suffered severe loss of life and property due to the recent cyclone, the damage to the Colombo District has been relatively lower. However, special intervention is being carried out together with the relevant institutions to manage the potential future flood risks in the district.
This matter was also given special attention during today’s District Disaster Management Committee meeting. We cannot allow the flooding to become a regular part of the lives of the people in Colombo. All relevant institutions will come together to put forward a common plan for flood control in the district.”
The Prime Minister further stated that discussions are already underway to provide sustainable solutions for the people living in high-risk areas within the Colombo District.
The discussion was attended by the Deputy Minister of Urban Development Eranga Gunasekara, Deputy Minister of Mass Media Kaushalya Ariyaratne, and Colombo District Members of Parliament Aruna Panagoda and Chandana Suriyarachchi.
[Prime Minister’s Media Division]
Latest News
Russia gifts 35 tonnes of Humanitarian Aid to Sri Lanka
The handover of 35 tonnes of Russian Humanitarian Aid to Sri Lanka, recently affected by the cyclone «Ditwah», took place at Katunayake today (10th December)
The shipment was welcomed at the Katunayake airport by Ambassador of Russia Levan Dzhagaryan, Minister of Ports and Civil Aviation Anura Karunathilaka and Deputy Minister of Defence, Major General Aruna Jayasekara (Retd).
Ambassador Levan Dzhagaryan: said “This delivery is a reflection of long-term friendly relations between Russia and Sri Lanka and reaffirms Moscow’s commitment to support countries in a difficult humanitarian situation.”
The supplies brought by the EMERCOM (Russian Ministry of Emergency Situations) aircraft comprised a movable 60 kW electric power station, Pumping equipment for water drainage, Summer tents (10-person capacity) and Food supplies (sugar, vegetable oil, rice)
The total cargo weight is 35 metric tonnes. The aid will be distributed among the most affected regions.

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