Sri Lanka, March 12 -- Sri Lanka's bankers vow to continue exercising mortgage actions against the defaulted creditors through the courts of law, once the suspension of the parate rights of banks comes into effect.

In a media statement yesterday, the Sri Lanka Banks' Association (SLBA), on behalf of all the licensed banks, including the state banks, public listed companies and branch offices of international banks, emphasised that the suspension of parate execution would not preserve a mortgaged asset of a defaulter. Reason being, the banks would continue to exercise mortgage action through the courts of law.

"The process requires each individual case to be put to the banks' boards of directors and the publication of notices in the medi...