President Maithripala Sirisena has directed the Governor of the Central Bank to extend the deadline for the return of mutilated currency notes to banks, until 31st March 2018.
The Central Bank of Sri Lanka had previously announced that it will not make payments to mutilated, altered or defaced currency notes after December 31, 2017.
Tthe CBSL said that the mutilation, alteration or defacement of currency notes is an offence under the Monetary Law Act (MLA) No. 58 of 1949, and is punishable by imprisonment or a fine or both.
“The holders of these currency notes will have to suffer the loss of face value of such notes.”
The public is advised to refrain from such practices and CBSL requests the public to exchange such currency notes with branches of licensed commercial banks.
