BACKGROUND STUDY OF BANKING INDUSTRY

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BACKGROUND STUDY OF BANKING INDUSTRY


The central bank of Sri Lanka's banking supervision department has elaborated following regarding the institutions permitted by the central bank to accept deposits.

There are three major categories of institutions that are subject to licensing and regulations and supervision by the central bank in  public  interest because they accept deposits from the general public. They are

        • Licensed Commercial Bank
        • Licensed Specialize Bank
        • Registered Finance Companies

Licensed Commercial Banks

Licensed Commercial Banks maintain current accounts for customers, where money could be transferred by cheque and  withdrawn on demand. they also maintain saving accounts, in addition they undertake a wide range of financial services and deal in foreign currency.

The 26 Licensed Commercial Banks and total of more than 6180 branches currently operating in the country.
These banks are regulated and supervised by the central bank of Sri Lanka under

        • Banking Act No. 30 of 1988
        • Monetary Law Act No. 58 of 1949
        • Companies Act No. 07 of 2007


  1. Amana Bank PLC
  2. Axis Bank Ltd
  3. Bank of Ceylon
  4. Bank of China Ltd
  5. cargills bank ltd
  6. Citi Bank,
  7. Commercial Bank of Ceylon PLC
  8. Deutche Bank AG
  9. DFCC Bank PLC
  10. Habib  Bank Ltd
  11. Hatton National Bank PLC
  12. ICICI Bank Ltd
  13. Indian Bank
  14. Indian Overseas Bank
  15. MCB Bank Ltd
  16. National Development Bank PLC
  17. Nation Trust Bank PLC
  18. Pan Asia Banking corporation PLC
  19. People's Bank \
  20. Public Bank Berhad
  21. Sampath Bank PLC
  22. Seylan Bank PLC
  23. Standard Charted Bank
  24. State Bank of India
  25. HSBC
  26. Union Bank of Colombo PLC


Licensed Specialized Bank

The Licensed Specialized Banks conduct specialized banking business under banking Act.
These banks are different from the Commercial banks since they are not authorized to maintain current account for customers and deal in foreign currency.However , they are authorized to accept saving and time deposits on which interest is paid.
At present, there are 7 Specialized Banks operating with 696 banking outlets in the country.

  1. Housing Development Finance Corporation Bank of Sri Lanka (HDFC)
  2. Lankaputhra Development Bank ltd
  3. National Savings Bank "Saving House"
  4. Sanasa Development Bank PLC
  5. Sri Lanka Savings Bank Ltd
  6. State Mortgage @ Investment Bank
  7. Pradeshiya Sanwardhana Bank










Comments

  1. Banking system (Bm/2015/266)29 June 2019 at 17:52

    Good job..

    ReplyDelete
  2. Hasna Jamaldeen29 June 2019 at 18:36

    It's really useful information.

    ReplyDelete
  3. Hasna Jamaldeen29 June 2019 at 18:36

    This comment has been removed by the author.

    ReplyDelete
  4. DilumM29 June 2019 at 18:44

    This article contains many valueble informations about banking industry of sri lanka... great job and all the best..

    ReplyDelete
  5. DilumM29 June 2019 at 18:45

    This comment hasn't been removed by the author.

    ReplyDelete
  6. bm/2015/343 D.B.P.Srimali29 June 2019 at 19:04

    Valuable information.

    ReplyDelete
  7. Unknown29 June 2019 at 19:09

    Great

    ReplyDelete
  8. Apsara29 June 2019 at 20:21

    Good job.keep it up

    ReplyDelete
  9. Thilini29 June 2019 at 20:23

    Learned many things thnks for sharing this valuable information

    ReplyDelete
  10. Nipuni29 June 2019 at 21:00

    Great work.Thank for sharing such kind of useful article.

    ReplyDelete
  11. Innovation Of Banking 29 June 2019 at 23:15

    Great work..keep it up

    ReplyDelete
  12. Giyanthi Iresha30 June 2019 at 05:33

    It's very useful information. good job. Keep it up..

    ReplyDelete
  13. BM/2015/30430 June 2019 at 08:37

    good job. keep it up

    ReplyDelete

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