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The finance limit of vehicles increased from 70 % to 90%
The ministry of finance authorities have announced that the Finance limits of vehicles that was reduced to 70 % of the value of the vehicle has been increased to 90% the value of vehicles.
In this regard the Central Bank of Sri Lanka is to issue today the 29th instant a circular in this regard to all state owned banks, commercial banks, private banks and other lending financial institutions engaged in financing for hire purchase facilities.
On 15th September 2015 the 100% financing facility was stopped and the facilities were reduced to only 70% of the value of vehicles.
The Minister of finance Ravi Karunanayake had now decided owing to internal pressure to increase the limit to 90 % of the value of the vehicles.