Business and economics news
Toyota Lanka on look out for recalled vehicles in Sri Lanka too

Reports in the international media yesterday indicated that manufacturers of the popular Toyota motor vehicles was recalling 6.4 million of its vehicles world-wide due to various manufacturing defects.

When AdaderanaBiz inquired from Toyota Lanka General Manager – Services, Matheesha Samaranayake whether there are any such defective vehicles among those sold in Sri Lanka as well, he said, “We are very cautious about this. Japan will provide more details about this very soon. We expect to convey the results to our customers within the next two days.”

“The earlier recall of the Toyota Prius hybrid vehicles due to technical defects affected Sri Lanka as well. We are already in the process of rectifying the technical defects in the vehicles already sold in Sri Lanka.

“If there are any technical problems with the Toyota vehicles already sold in Sri Lanka, we are prepared to bring back such vehicles to the company and rectify the defects,” Mr. Samaranayake assured.

Over 1.2 million Agrahara Medical Insurance beneficiaries to benefit from Lanka Hospitals partnership with National Insurance Trust Fund
The National Insurance Trust Fund (NITF) which provides insurance coverage for over 1.2 million government beneficiaries took a step forward in expanding their services by joining hands with Lanka Hospitals to cover private hospital costs for Agrahara medical insurance beneficiaries. A partnership which has been carried out for the past three years between the two parties was recently extended for the fourth consecutive year to provide Agrahara medical insurance beneficiaries easier access to medical facilities in private hospitals.

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Commercial Bank’s ATMs set new records this ‘Avurudu’
A new record was set for cash dispensed in a single day when users of the Commercial Bank’s ATM network withdrew a mammoth Rs 2.05 billion on Friday, 11th April 2014, beating the Bank’s own record set a year previously, by Rs 263 million.

The new one-day record was the peak of a record breaking 12-day period for Sri Lanka’s largest private bank, whose 585-terminal ATM network dispensed Rs 15.438 billion between the 1st and 12th of April 2014, as the country prepared to celebrate the Sinhala and Hindu New Year.

Emphasising this point, the total value of cash dispensed on the 10th and 11th of April 2014 was Rs 4.023 billion, the highest ever value dispensed by the Bank over two days.

The previous record for the highest value dispensed in a single day was Rs 1.79 billion, set on 10th April 2013. The Bank reports that the average ticket size of a withdrawal on 10th April 2014 was Rs 10,400, as against Rs 6,500 on the same day last year, an increase of 60%.

The number of transactions processed by the network on 11th April 2014 as it set the new 24-hour record was 245,000, the highest number in a day for this season. This was lower than the Bank’s single-day record of 325,000, and was attributable to the higher daily withdrawal limits offered to Cardholders, the Bank said.

During the weekend of 12th – 15th April, Commercial Bank’s ATMs dispensed Rs 2.922 billion, which is also the highest value the Bank has ever dispensed during a weekend. The previous highest value for a weekend was recorded during the weekend of 29th – 31st March '14, and the value dispensed was Rs 2.278 billion.

“What these figures reiterate is the invaluable role the Commercial Bank plays in the day to day lives of millions of people all over Sri Lanka,” said Mr. Jegan Durairatnam, the Bank’s Chief Operating Officer. “They also underline the value of the technology as well as the capacity, robustness and reliability of the our ATM network, factors that assume greater importance during peak shopping seasons such as the Sinhala and Hindu New Year and Christmas.”

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