Max Rs. 600,000 compensation for ETI depositors

The Central Bank of Sri Lanka (CBSL) has taken measures to pay the compensation payments to the depositors of ETIFL and SFSP from the Sri Lanka Deposit Insurance and Liquidity Support Scheme (SLDILSS), upon suspension of the finance businesses of ETI Finance Limited (ETIFL) and Swarnamahal Financial Services PLC (SFSP) with effect from 13 July. 

The CBSL said accordingly, the compensation payment will be commenced from Saturday (25) through selected branches of the People’s Bank Island wide.

In terms of the regulations of the SLDILSS, maximum compensation of Rs. 600,000/- per depositor will be paid through 45 branches of People’s Bank Island wide.

Accordingly, the necessary funds for paying compensations to all the depositors/ legal beneficiaries confirmed by ETIFL and SFSP has already been allocated by SLDILSS and the CBSL has taken all required measures to ensure that compensation procedure is implemented in an efficient and effective manner.

The depositors of ETIFL and SFSP are hereby requested to extend their maximum cooperation towards this compensation payment programme by submitting originals of deposit certificates, identification details and other required documents to the respective branch of People’s Bank.  

The CBSL said further details pertaining to the compensation to the depositors of ETIFL and SFSP can be obtained from the following telephone numbers.

People’s Bank: 0112 481 594, 0112 481 320, 0112 481 617, 0112 481 703

Central Bank of Sri Lanka: 0112 398 788, 0112 477 261 (Colombo Gazette)