Posts

Image
HISTORY OF THE CURRENCY OF SRI LANKA  Sri Lanka is a country that has long history. When studying these history, it is essential to study about the coins. In different eras people use different coins. Because in different period of time Sri Lanka is governed by different nations. Although small in size, a coin has the ability of giving information about the economic and cultural history of our country. We can take evidence about the coin from “ vansa katha ”, ancient texts and letters as well as in archeological evidence. Sri Lanka’s currency can be categorize based on following eras. Anuradhapura era Polonnaruwa to kotte era Kandy era Colonial era Post-independence period since establishment of the central bank of Ceylon.  0    01.   ANURADAPURA ERA Anuradhapura is the first kingdom of our country. In this era people use following coins. Kahapana – the earliest unit of currency known in the island is referred to as a kahapana. They are called puranas in
6 comments
Read more
CHALLENGES AND OPPORTUNITIES IN THE BANKING SECTOR   CHALLENGERS IN THE BANKING SECTOR The banking industry is facing continuous challengers in nowadays. Main key challengers in banking sector are, Foreign bank competition (provide differential services to the customers) Slow down the economic growth.   Disruptive technological environment. Government un-stability. Then people do not take loans and do not invest money (Changing tax policies, new rules and regulations). Lack of skills and it is difficult to retain employees. Not capture in real areas. High transaction cost (relatively higher the interest rate of loans). It is difficult to retain customers with their product.  Higher the non-banking competitions.   OPPORTUNITIES IN THE BANKING SECTOR. Provide innovative product (with new features and facilities). Door to door product (go to customer and give awareness about their product). High professional approaches (have more skill and
5 comments
Read more
Image
BANKING PRODUCTS.  SAMPATH BANK     Bankers are the main companies that provide intermediary services to lenders and borrowers. To facilitate the intermediaries services, a bank provide different product to their customers. These product are vary with the life time and needs of different customers. To analyze banking product we select the sampath bank. Following services are provided by sampath bank.      01. SAVING ACCOUNT    01.   Regular Savings v   Sampath Double S              Offers up to 50% bonus on interest monthly.         An activated sampath visa debit card is given at the opening of the account. v   Sampath Hit Saver The freedom to enjoy unlimited withdrawals per month. Instant loan facilities up to 90% of the account balance. An account can be activated with an initial deposit of Rs.50000/=  02.     Children savings v   Sampath Pubudu Initial deposit is Rs.500/= To enjoy the benefit of the new scheme. Existing PU
8 comments
Read more
Image
Banking system of Sri Lanka The Banking and financial sector in Sri Lanka has a very special and vital role to play for achievement of continuous economic growth of our country. Unlike the banking and financial sector of many other countries in the region, Sri Lanka and finance sector has growth from strength over the years and is now on a sound platform.   The banking sector consist of 33 banks. Out of these 33 banks, 26 are Licensed Commercial Banks (LCBs) and other 7 are Licensed Specialized Banks (LSBs).     Banking sector of Sri Lanka can be categorized as follows.       Banking System in Sri Lanka (33)        1.       Licensed Commercial Banks (26)         1.1.    Private Banks (24)          1.1.1         Foreign Banks (13)          1.1.2         Local Bankers (11)    1.2      Public Banks (02)         2. Licensed Specialized Banks (07)  Licensed Commercial Banks (LCBs)   Licensed Commercial Bank is a banking institution issued with a licen
3 comments
Read more