October 17, 2019
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    Sri Lanka’s banking sector should start preparing for the anticipated transformation of the current banking industry landscape as the new Banking Act is set to come into effect with the regulator gaining power to impose fines on errant banks. “We are in the process of reviewing the current banking act and there are number of amendments that will be introduced to strengthen the banking act and one of those amendments is to empower the statutory authority who is the director of bank supervision to impose fines,” Central Bank Governor Dr. Indrajit Coomaraswamy told reporters on Friday (11 October).

    The Election Commission has invited South Asian Election monitors from seven south Asian Countries, who are scheduled to arrive in the country, a week before voters head for the Presidential polls, Election Commissioner Director General Saman Sri Ratnayake confirmed. The South Asian countries include the Maldives, Bangladesh, Bhutan, India, Pakistan, Nepal, Afghanistan, and South Korea.

    The Department of Meteorology today issuedWarning for Severe Lightning and Heavy Rain says that thundershowers accompanied by severe lightningare likely to occur at several places in Western, Sabaragamuwa, Central, North-western and Uva provinces and in Galle, Matara, Anuradhapura and Vavuniya districts in the evening or night.

    A Memorandum of Understanding (MOU) was signed for the first cable car project in Sri Lanka to be built in Nuwara Eliya yesterday (October 13).The relevant agreement was signed under the patronage of the Minister of Plantation Industries Navin Dissanayake, at the Nuwara Eliya Municipal Council premises.The US$50 million cable car project in Nuwara Eliya to promote the Tourism Sector received cabinet approval in July 2019.

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