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Payment of Additional Compensation under the Sri Lanka Deposit Insurance and Liquidity Support Scheme to the depositors of Swarnamahal Financial Services PLC (SFSP)

The Central Bank of Sri Lanka wishes to inform the eligible depositors/relevant legal beneficiaries of eligible deposits of Swarnamahal Financial Services PLC (SFSP) that the payment of additional compensation under the Sri Lanka Deposit Insurance and Liquidity Support Scheme will commence from 10.05.2021 onwards. Accordingly, the eligible depositors/relevant legal beneficiaries of eligible deposits can collect their claims from any People’s Bank branch commencing from 10.05.2021 by producing the relevant documents. The eligible depositors/beneficiaries are advised to avoid gathering in large numbers at the People’s Bank premises and to strictly comply with the health guidelines.

CCPI based Inflation decreased to 3.9 per cent in April 2021

Headline inflation, as measured by the year-on-year (Y-o-Y) change in the Colombo Consumer Price Index (CCPI, 2013=100) decreased to 3.9 per cent in April 2021 from 4.1 per cent in March 2021. This was driven by monthly decreases of prices of items in the Food category. Meanwhile, Food inflation (Y-o-Y) decreased to 9.0 per cent in April 2021 from 9.6 per cent in March 2021, while Non-food inflation (Y-o-Y) remained unchanged at 1.8 per cent in April 2021.

The change in the CCPI measured on an annual average basis decreased marginally to 3.9 per cent in April 2021 from 4.0 per cent in March 2021.

Monthly change of CCPI recorded a marginal decline in April 2021. This was due to price decreases observed in items of the Food category. Within the Food category, prices of coconut, vegetables, red onion and big onion decreased in April 2021. Meanwhile, prices of items in the Non-Food category recorded an increase during the month mainly due to price increase observed in the Transport (lubricant oil) sub-category.

The Central Bank of Sri Lanka Releases its Annual Report for the Year 2020

In terms of Section 35 of the Monetary Law Act No. 58 of 1949, the seventy first Annual Report of the Monetary Board of the Central Bank of Sri Lanka was presented to Hon. Mahinda Rajapaksa, the Prime Minister and the Minister of Finance, by Deshamanya Professor W D Lakshman, the Governor of the Central Bank of Sri Lanka.

Revised Regulations Issued Under the Foreign Exchange Act, No.12 of 2017

Regulations issued under the Foreign Exchange Act, No. 12 of 2017 (FEA) have been revised for further simplification and clarity improvement, with the objectives of achieving greater efficiency in the conduct of cross-border foreign exchange transactions alongside further facilitating economic activities of the stakeholders through greater convenience of doing business.

These revised foreign exchange policy framework as highlighted above, has been implemented with effect from 22 March 2021. Inter-alia, key highlights of policy measures so introduced, are as follows.

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