A report to amend the fixed deposit interest rate paid to senior citizens has been submitted to president Ranil Wickremesinghe, said finance state minister Ranjith Siyambalapitiya.
The government has taken note of the fact that most of the nearly 1.5 million senior citizens depend on the FD interest as their sole retirement income.
The state owes around Rs. 88 billion to the banks in lieu of interest added for them during times the bank interest rates were brought down, he said.
Siyambalapitiya expected a positive outcome as per the report’s recommendations of remedial action for the consideration of the treasury.
