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Join date : 2015-02-03
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End of the GK drama
The second stage covers deposits from 2 to 10 million rupees.
The cabinet earlier approved a repayment schedule prepared by the Central Bank for resolving the difficulties confronted by the Golden key depositors.
As its first step the general treasury has granted an advance of 544.3 million rupees for the repayment to deposit holders who have deposits worth less than 2 million rupees.
These advances will be reimbursed to the treasury by liquidation of assets of the Golden Key Credit Card Company, the cabinet spokesman said.
Accordingly, the total advance for both stages will be about 4.5 billion rupees.
Source: LBO