Pramuka to be reopened as State bank

  • 23 Dec 2005 02:30:01 GMT

    Modakamata beheth netha!

    (There are no medicines available for stupidity)

  • 24 Dec 2005 15:08:13 GMT

    Lalith Kothalawala will be the Chairman and Rohan Perera will be CEO

  • 24 Dec 2005 23:41:20 GMT

    If Paramuka were to be reopened as state bank it is well and good, but if you want the confidence of the public promise the full amount at least in installments. What is this 25% talk; it is very unfair. Government can afford to make up the loss. It was the mistake of the Central Bank and the responsibility should be taken by the Finance Minister; Why do not bring the culprits to book?.

  • 25 Dec 2005 00:11:08 GMT

    Kandappa, if you read the article carefully it states that the government is taking it over so that it would avoid a liquidation of the bank (dissolution). If the liquidation had taken place the depositors would have received only 25%. Now the entire deposits would be safe as the bank will continue to be in existence as a state bank, not dissolved and ended as a legal entity.

  • 2 Jan 2006 10:12:17 GMT

    Even this bank is opened, Depositors may not be allowed to withdraw their deposits for a minimum agreed term. Further they may not be able to receive high interest rates quoted at the time of making deposits and it may be par with other banks` rates during the time of making the deposit.

    I do not believe this bank will be able to survive considering the new capital requirement to be fulfilled by the end of year 2007.

    I wonder what is the role of Wijedasa Rajapaksha on this private bank which is under liquidity.

  • 2 Jan 2006 13:55:24 GMT

    It`s very important for us depositors that Pramuka is re-opened without delay. What did Central Bank do for 3 years, after it shut this bank? The borrowers are happy. Most of them have not paid a cent and the Central Bank too has not paid the depositors a cent. The Central Bank suspended Pramuka with a false statement that it was done `to safeguard the depositors` They have paid scant regard to safeguard us. Why shouldn`t the Government come in and help?

    At the same time as Pramuka, 3 other banks also got into trouble and the Central Bank had helped them out even though they had less amount of deposits. Why should only Pramuka`s depositors suffer? We applaud Mr. Wijedasa Rajapaksha for his courageous stand.

  • 2 Jan 2006 20:04:11 GMT

    Smile4U:

    You are right. I read it wrong. I note with interest that the depositors will get their money back. Thanks.