The government has appointed a commiittee to look into irregularities, ineffective actions and misconduct in the four major state banks during the last five years.

Former High Court Judge Sisira Ratnaike, Susantha de Silva and W. Premananda will serve as members of the committee.

The formation of the committee was appproved at the first Cabinet meeting of the new government, the Finance Ministry said in a statement.

The committee is expected to make recommendations to the Cabinet in three months.