Banks have been instructed to suspend the recapture of defaulting vehicles within the next six months, Central Bank Governor Ajith Nivard Cabral said.

The Governor further said that a sum of Rs. 15 million has been allocated by the Central Bank to provide relief for old loans and interest rates of small and medium scale entrepreneurs.

The Governor said that all banks have been instructed not to take over properties through ex-parte agreements within the next six months.

Cabraal made these remarks today (01) while unveiling the Six Month Economic Plan to Ensure the Sustainability of the Economic and Financial Systems at the Central Bank Headquarters.