A four-member committee appointed to look into the allegations of irregularities, unproductive measures and instances where actions were taken contrary to the objectives at the four main State banks of the country during the last five years has received over 100 complaints, the Ministry of Finance.

The Committee was appointed by Prime Minister Mahinda Rajapaksa in his capacity as the Minister of Finance on 20 August.

The Finance Ministry said the Committee will receive complaints till 30 September and will submit its report with the recommendations within three months.

The four-member committee has been appointed to formally study the irregularities, instances of violating the objectives and procedures of respective institutions, provision of the Banking Act as well as the unproductive activities and transactions at the Bank of Ceylon, People’s Bank, National Savings Bank (NSB), Regional Development Bank (RDB) and affiliated institutions after January 08, 2015.

The committee will also  make recommendations to transform the state banking system into a more people-friendly service.

It is headed by  former High Court Judge Sisira Ratnayake and also includes Charted Accountant Susantha de Silva and retired Additional Auditor General W. Premananda. A representative of the Finance Ministry will serve as the Secretary of the Committee.