Sri Lanka, March 29 -- The Central Bank this week noted that the government's move to suspend the rights of banks to exercise parate execution will not have severe implications on the financial sector since it is a short term measure.

While concerns have been raised in this regard by both, the banks and borrowers, Central Bank Governor Dr. Nandalal Weerasinghe said there is no need to worry as yet.

"The government's decision is to suspend only for six months. I don't think that will have a significant impact," said Dr. Weerasinghe responding to a question raised at the Monetary Policy briefing held this week.

Despite repeated warnings by banks, the Cabinet approved the draft Recovery of Loans By Banks (Special Provisions, Amended) Act ...