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Sri Lanka's Finance Ministry has approved an increase in interest rates on fixed deposits of senior citizens.
The benefit to senior citizens was one of the proposals presented through the recent interim budget.
The Ministry has given approval to the Central Bank of Sri Lanka to pay 15 percent interest on fixed deposits of senior citizens Secretary to the Ministry of Finance Dr. R.H.S. Samaratunge said.
A draft bill is currently being prepared on the payment of interest on gold items mortgaged at state banks and the relevant approval will be issued next Friday, Dr. Samaratunge told national radio.
Meanwhile, the instructions pertaining to the interim budget proposal on the Rs. 5,000 rupee salary increase has been provided by the Ministry of Public Administration. The Secretary added that the Rs. 5,000 increase will be added to the salaries of the government employees from this month.
The benefit to senior citizens was one of the proposals presented through the recent interim budget.
The Ministry has given approval to the Central Bank of Sri Lanka to pay 15 percent interest on fixed deposits of senior citizens Secretary to the Ministry of Finance Dr. R.H.S. Samaratunge said.
A draft bill is currently being prepared on the payment of interest on gold items mortgaged at state banks and the relevant approval will be issued next Friday, Dr. Samaratunge told national radio.
Meanwhile, the instructions pertaining to the interim budget proposal on the Rs. 5,000 rupee salary increase has been provided by the Ministry of Public Administration. The Secretary added that the Rs. 5,000 increase will be added to the salaries of the government employees from this month.
