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A new General Manager CEO for NSB

Ms. Shashi Kandambi, a leading professional in the banking sector, has assumed office as the 19th General Manager/CEO of National Savings Bank (NSB) on 10th January 2024.
Ms. Kandambi was the Senior Deputy General Manager of International Banking at Sampath Bank, where she had a long-standing and successful career. Her banking experience spans over 35 years including 10 years in Corporate Management. She has a proven track record of successfully developing and executing strategic plans, managing financial resources, risk mitigation, and maintaining strict corporate governance standards.
She also has expertise in customer focus, innovation and technology, regulatory compliance, and crisis management. The positions held by her at Sampath Bank include Senior Deputy General Manager – Corporate Banking, and Deputy General Manager – Credit.
She holds an MBA from the Post Graduate Institute of Management, University of Sri Jayewardenepura, a Post-graduate Diploma in Business and Finance from CA Sri Lanka, and a Diploma in Banking from the Institute of Bankers Sri Lanka. She is a director of the Institute of Bankers SL. She is also a past President of the Association of Professional Banks, Sri Lanka.
A simple ceremony was held at the Bank to mark the occasion. Bestowing religious blessings, Chief incumbent of Bambalapitiya Vajiraramaya and Anunayake of Amarapura Sri Dhammarakshitha Nikaya, Most Ven. Thrikunamale Ananda Thero emphasized that the concept of saving, and thrift is significant to empower the country as well as the individuals financially, and National Savings Bank, which carries the mandate of inculcating the habit of saving, since its inception, immensely contributes towards ensuring the financial security of the nation. Most Ven. Thrikunamale Ananda Thero further observed that Ms. Kandambi, as the New General Manager/CEO of National Savings Bank, will strengthen its mission of bringing the population under the savings net.
Addressing the gathering, the Chairperson of the Bank, Dr. Harsha Cabraal PC, reminded us that as a Bank and individuals, we have tread upon a difficult path and now reached the year, 2024, passing yet another year full of challenges, grievances, and hardships.
The employees of the Bank have been the pillar of strength behind the Bank’s resilience and success. Dr. Cabraal warmly welcomed Ms.Kandambi to the NSB family and invited to join hands with the excellent team of employees to take the Bank to greater heights.
Ms. Shashi Kandambi, as the new General Manager/CEO, addressed the gathering and noted that NSB, having more than 4000 service points can achieve a competitive edge, by maintaining the human connection in the service offered by the Bank, while ensuring that the technology is in the forefront of our strategy. She guaranteed her strong commitment and will towards steering the Bank amidst challenges to realize corporate goals. Members of the Board of Directors, Corporate and Executive Management of the Bank, and representatives of the trade unions were present at the event.
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President and representatives of IMF discuss progress of EFF

A comprehensive discussion regarding the progress of the Extended Fund Facility (EFF) agreed with the International Monetary Fund (IMF) took place on Thursday (06) at the Presidential Secretariat, between President Anura Kumara Disanayake and the IMF delegation.
The current government has already reached a staff-level agreement with the IMF on the third review regarding the extended arrangement under the Extended Fund Facility (EFF) of USD3 billion.
The details of this review are expected to be presented to the International Monetary Fund’s Board of Directors by the end of this month. In this regard, discussions were held regarding the progress and the government’s involvement in continuing the program moving forward.
Once the approval is granted by the IMF Executive Board, Sri Lanka is expected to release the fourth tranche of the extended loan, amounting to 333 million dollars.
The discussion was also attended by IMF Executive Director Dr. Krishnamurthy Subramanian, Alternate Executive Director Dr. P. K. G. Harischandra, Deputy Minister of Economic Development Dr. Anil Jayantha Fernando, Secretary to the President Dr. Nandika Sanath Kumanayake, Secretary to the Ministry of Finance Mahinda Siriwadana, and Governor of the Central Bank of Sri Lanka Dr. Nandalal Weerasinghe.
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New Commanders of the Tri-Forces meet the President

The newly appointed Commander of the Tri-Forces met with Commander-in-Chief, President Anura Kumara Disanayake on Thursday (6th) afternoon at the Presidential Secretariat.
The meeting was attended by Lieutenant General Lasantha Rodrigo, the new Army Commander; Vice Admiral Kanchana Banagoda, the new Navy Commander and Air Marshal Vasu Bandu Edirisinghe, the new Air Force Commander.
Following tradition, the new commanders formally met with the President after assuming their duties. During the meeting, they also presented the President with a commemorative token.
News
Musk reveals ‘crazy waste’ of USAID funds in Sri Lanka

USD 7.9 mn spent on teaching Lankan journalists how to avoid “binary-gendered language”
USAID has spent $7.9 million to teach Sri Lankan journalists how to avoid “binary-gendered language”, Elon Musk who heads the Department of Government Efficiency (DOGE) said in a post on X on Thursday.
Musk called it a “Crazy waste of your tax money!”
Musk’s criticism came with a detailed breakdown of USAID’s spending across various countries, which he argued reflects misguided priorities. According to a document Musk shared, USAID has funded a range of projects globally, including $20 million for a new Sesame Street show in Iraq, $4.5 million to “combat disinformation” in Kazakhstan, and $6 million to transform digital spaces to reflect feminist democratic principles.
The list also included $1.5 million for art projects promoting the inclusion of people with disabilities and $2 million for sex changes and LGBT activism in Guatemala. $10 million worth of USAID-funded meals, allegedly ended up in the hands of an al-Qaeda-linked terrorist group, the document states.
Other USAID programmes include $25 million for Deloitte to promote green transportation in Georgia, $6 million for tourism development in Egypt, and $2.5 million to foster inclusion in Vietnam. The documents also pointed to $5 million awarded to EcoHealth Alliance, a group linked to bat virus research at the Wuhan lab, and $20 million for an organisation tied to what Musk described as a “key player” in the Russiagate impeachment inquiry.
Further funds were allocated for various LGBT-related initiatives worldwide, including $5.5 million for LGBT activism in Uganda, $6.3 million for men who have sex with men in South Africa, $3.9 million for LGBT causes in the western Balkans, and $6 million for advancing LGBT issues globally. Additionally, $2 million was allocated to promote LGBT equality through entrepreneurship in Latin America, while $1.5 million was designated for LGBT advocacy in Jamaica.
The data also highlighted spending closer to home, with $1.2 million going to help the African Methodist Episcopal Church Service and Development Agency in Washington, D.C., build a 440-seat auditorium. A further $1.3 million was provided to Arab and Jewish photographers, while $1.1 million supported an Armenian LGBT group.
Musk criticised other expenditures as well, including $3.9 million for artisanal gold mining in the Amazon and $500,000 aimed at solving sectarian violence in Israel just days before the October 7 Hamas attack.
Attention was also drawn to USAID’s $150 billion “whole-of-agency” climate strategy, which outlines efforts to build an “equitable world” while pursuing net-zero greenhouse gas emissions.
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