Deadline to apply for SME debt relief package extended to 10th Feb

The CBSL has extended the deadline for Small Medium Enterprise (SME) who wish to obtain the benefits of the new debt relief package introduced by the government.

Accordingly, SME borrowers who have obtained loans not more than Rs 300 million should inform their relevant bank branches before the 10th of February.

The government’s new debt relief package has suspended banks from taking legal action or imposing fines against SMEs that have defaulted loans.

CBSL has issued a circular to all commercial banks on the implementation of this debt relief package.

The Finance Ministry initially set a deadline of 31 January.