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People’s Bank introduces Vanitha Saviya loan facility for women

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In line with the government’s development drive, People’s Bank introduced the Vanitha Saviya loan scheme in 2020 to empower Sri Lanka’s women entrepreneurs.

This loan was designed for women who are engaged in micro or small-scale businesses or for those who start a business. Another main objective of this loan scheme is to lessen the financial burden of the women who were engaged in businesses during COVID-19 pandemic period.

For those who are already running successful businesses, the Vanitha Saviya loan scheme from People’s Bank allows them to obtain a facility up to Rs. 500,000 or a working capital loan of Rs. 200,000. For those just starting out, an amount of up to Rs. 120,000 can be obtained. With an interest that that will not fluctuate until the loan is settled, the Vanitha Saviya loan scheme is designed to put the applicant’s needs at the core of its premise.

Deputy General Manager of the People’s Bank (Enterprise Banking) Ms. Krishani Narangoda expressed her views. The Vanitha Saviya loan scheme was mainly introduced by the People’s Bank to empower the country’s women and engage women on income earning activities. This loan scheme was introduced in line with the Governments national policy framework of Vistas of Prosperity.

‘To raise the national economy, rural economy should be developed. The contribution of women is important for the income generation and therefore it is vital that leadership capabilities of the women are improved. Through this, the development of entrepreneurship, the economy of the country and the standard of living of the Sri Lankans can be achieved’.

Assistant General Manager (Development & Micro Finance) Mrs. U S Girty expressed her views. To be eligible for Vanitha Saviya loan scheme she should be a micro or small-scale business woman who has been carrying on her business for over 6 months continuously. Above conditions do not apply for women who make 40% or more contribution either in cash or goods.

The applicant should be between 25- 65 years of age. It is essential that the loan applicant resides in the operative area or carrying on the business in that area. In addition, the applicant should not be a defaulter to any bank or should not be a guarantor for such a loan. The business she conducts should produce goods or services that are in high demand and she should have a sound technical knowledge required for the business.

Loan repayment period is maximum 5 years which includes a maximum concessionary period of 3 months for fixed assets investment loans. For working capital loans the repayment period is maximum 3 years. A unique feature of this scheme is according to the business and its income the installment payments could be decided.



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HNB joins CBSL to promote ‘Rata Purama LANKAQR’ campaign in Kandy

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HNB PLC once again joined the Central Bank of Sri Lanka (CBSL) to promote the ‘Rata Purama LANKAQR’ campaign to raise awareness and encourage the public in the Kandy district towards a cashless payment ecosystem.

HNB, together with other financial institutions and telecommunication partners, participated in the day-long event held at the Kandy City Center. The bank raised awareness regarding its LANKAQR integrated HNB SOLO payment app while onboarding merchants during the promotional campaign.

“During the early stages of the pandemic we witnessed many of our customers and members of the public seamlessly adopt our cashless and contactless payment app HNB SOLO. With COVID and the subsequent launch of the ‘Rata Purama LANKAQR’ campaign the number of users of these types of systems have increased exponentially.

“Given that the mutual vision of the Central Bank of Sri Lanka and HNB is for a financially and technologically empowered Sri Lanka, HNB is proud to serve as an enthusiastic partner to roll out LANKAQR island-wide. The fact that we now have merchants in the cultural capital of Sri Lanka making this shift is another major milestone in this digitalization journey,” HNB Deputy General Manager – Retail and SME Banking, Sanjay Wijemanne said.

 

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ComBank’s ATM network sets new records for cash dispensed during festive season

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The automated teller machine (ATM) network of Commercial Bank of Ceylon dispensed a record Rs 8.818 billion on 9th and 10th April 2021, shattering the previous records for the highest and second highest cash disbursements for a 24-hour period, as Sri Lanka’s leading private bank facilitated the celebration of the Sinhala and Tamil New Year.

The disbursements of Rs 4.498 billion on April 9 and Rs 4.320 billion on the following day represented a substantial increase over the single-day values recorded in previous years.

In total, Commercial Bank dispensed Rs 41.748 billion via its ATM network between 1st and 15th April 2021 at an average of Rs 2.783 billion per day, reaffirming the indispensable role it plays in the lives of Sri Lankans, as well as the reliability and robustness of the network. On seven of these 15 days the network dispensed more than Rs 2 billion a day, and on five days disbursements exceeded Rs 3 billion a day, the Bank said.

Comprising of 890 ATMs, the network processed 2.434 million transactions over the 15 days at an average of 168,988 transactions a day, while on 9th April, the number of transactions processed totalled 233,990 at an average of 9,749 transactions per hour or 162 transactions per minute.

The first Sri Lankan bank to be listed among the Top 1000 Banks of the World and the only Sri Lankan bank to be so listed for 10 years consecutively, Commercial Bank operates a network of 268 branches in Sri Lanka. The Bank’s overseas operations encompass Bangladesh, where the bank operates 19 outlets; Myanmar, where it has a Microfinance company in Nay Pyi Taw; and the Maldives, where the bank has a fully-fledged Tier I Bank with a majority stake.

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‘Ceylinco VIP Cyber Tharu’ to showcase Sri Lankan talent

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Ceylinco General Insurance has announced an online competition with a novel concept to showcase Sri Lankan talent by providing a platform for them with the opportunity to win handsome cash prizes.

“This time, our effort is to organize an online competition that provides an opportunity for Sri Lankan people to display their talent and also to identify hidden talents whilst rewarding them. There will be five overall winners whose prize money will be over Rs. 1 million and each category winner will get Rs 100,000/-. Ten randomly picked voters too will receive handsome cash awards,” said Patrick Alwis, chairman CEO of Ceylinco General Insurance.

The guidelines and the criteria of the competition were announced recently through a dedicated website and other social media platforms: Facebook, Instagram, twitter, You Tube as well as LinkedIn. Contestants can perform under five categories, namely, singing, dancing, instrumental performances, fashion modelling and funny videos / Standup comedy. Individuals over 18 years could perform under the individual category whilst the group category will have no age limit.

Under the group category either families or a group of friends could take part. Each entry will have to be specially recorded for this competition. Prior to recording the performance, they should download the image of the logo and have it displayed prominently in the background. Performances could be recorded using a smart phone or a video cam.

 

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