Committee to probe irregularities and review activities of state banks during past 5 years

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The Ministry of Finance says that a four-member committee has been appointed to look into the allegations of irregularities, unproductive measures and instances where actions were taken contrary to the objectives at the four main state banks of the country, during the last 05 years.

Issuing a statement today, the ministry said that the Cabinet of Ministers granted approval to the Cabinet paper submitted by Prime Minister Mahinda Rajapaksa in his capacity as the Minister of Finance, to streamline the state banking system and make it efficient in order to strengthen the national economy, and also to look into irregularities that had taken place within state banks.