CB ups maximum compensation for depositors of failed finance companies | Daily FT

Increases cap by Rs. 500,000 to Rs. 1.1 m from Rs. 600,000 previously Depositors of six finance companies to benefitMove will result in an additional payment of Rs. 9.8 b and percentage of depositors fully compensated will be increased to 94.0So far 254,484 customers compensated with Rs. 21.6 b via Deposit Insurance and Liquidity Support Scheme out of Rs. 25.8 b payableThe Central Bank yesterday has increased the maximum compensation payment under the Sri Lanka Deposit Insurance and Liquidity Support Scheme (SLDILSS) by Rs. 500,000 to Rs. 1.1 million in a major relief to thousands of customers…

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HEDGE accordingly