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Sri Lanka to merge HDFC and SMIB, capital boosted: Budget2017

ECOOMYNEXT – Sri Lanka will merge state-run Housing Development Finance Corporation and State Mortgage and Investment Bank, Finance Minister Ravi Karunanayake said.

The two banks will also get a 7.5 billion rupees capital injection, he said.

Sri Lanka will also merge Co-operative Rural Banks and Divineguma Bank (connected to the Samurdhi system) he said.

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