The Central Bank of Sri Lanka (CBSL) has issued a notice pertaining to the interest rates on lending and deposit products of licenced banks.
The bank revoked the Order 2.1 of the Monetary Law Act Order No.01 of 2022 dated 11th March 2022.
The order has been revoked to be in line with the CBSL’s recent decision to tighten monetary policy measures.
Licenced banks have been approved to adjust the deposit rates adequately, in line with the tight monetary policy measures adopted by the CBSL, to attract deposits into the banking system.
The CBSL notice is as follows:
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