The Central Bank of Sri Lanka (CBSL) has listed out the 17 concessions that have been requested to be further extended for businesses and individuals due to the prevailing COVID-19 pandemic.
Issuing a circular, the bank said licensed commercial banks and licensed specialized banks have been requested to consider extending the concessions granted previously to borrowers affected by COVID-19.
The bank said concessions that were earlier extended until 31st August 2021 have been requested to be further extended up to 31st December 2021, considering the new surge in the pandemic and the resultant difficulties to the borrowers.
Licensed banks have also been requested to offer additional concessions to affected borrowers, at their request, in a way that the overall benefits to the borrowers are not less than those specified by CBSL.
These new concessions are expected to provide an opportunity for affected borrowers to make arrangements to repay their dues regularly commencing January 2022.
The CBSL has also urged the eligible borrowers who can repay loans to commence/continue the repayments instead of requesting deferment or restructuring of credit facilities.
The bank added that Licensed banks are also expected to take note of the repayment capacity of affected borrowers and amicably agree on new repayment plans to facilitate customers to repay their dues without undue burden to their day-to-day activities. (NewsWire)
