April 23, 2020
HNB-LOGO-Image.jpg

3min

HNB PLC announced the implementation of a slew of special support measures to provide financial relief to their cardholders. The Bank said it had initiated these measures to help their valued customers and community tide over this difficult period, so that they could focus on other priorities and continue to provide the best for their families and themselves.

As of 1st April, the minimum payment on credit cards has been reduced by 50% for all HNB credit card holders, valid until end September 2020. Accordingly, the minimum payment will now be 2.5% of the statement outstanding amount and will be reflected from the April 2020 statements onwards. Late payment fees will not be charged for a period of 6 months and will be in effect till end September 2020.

 


For customers with new transactions commencing 24th March 2020, a reduced interest rate of 15% p.a will apply on the statement outstanding amount less than LKR 50,000, until end June. The Bank has also extended payment due dates to 30th April 2020, for all credit card payments due from 20th March 2020 onwards. Additionally, interest will be waived off fully if card is settled in full on or before 30th April 2020 and applicable interest rebate will be reflected in the May card statements.

Sanjay Wijemanne, HNB’s Deputy General Manager, Retail Banking said “In these particularly trying times, we at HNB want to play our part in our commitment to caring for our customers”.

“As their long term banking partner, we believe our added support can help alleviate the disruption and pressure from the ripple effect of the epidemic”.

“The wellbeing of our customers and clients is our top priority and we hope these measures will help put their minds at ease to focus on other priorities” added Wijemanne.

Wijemanne went on to note “We would like to remind you of HNB’s digital capabilities that empower you to manage your bank accounts in a hassle free and flexible manner and urge all our customers to make use of this safe online banking facility.


March 24, 2020
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4min

Covid – 19 is spreading, and there is no cure to be seen in the foreseeable future. The global pandemic has shown to be mostly affecting the elderly, a mutual trend shared by all the countries affected by it.

China reported approximately 53% of infected cases who were 50 years and above, while deaths due to the Corona virus  of 80+ year olds are at almost 15%. In Italy 37.3% are of the age category between 51 – 70 years. [www.worldometers.info & www.statista.com]. In Sri Lanka, approximately 45% of those tested positive of Covid – 19 are between the ages of 41 – 45, while around 16% are between 31 – 40 years.

While being comparatively safer from being infected, young people can be the biggest carriers of the virus, due to being more socially active. While a curfew, lockdown or imposing self-quarantine will have a big impact on reducing the spread of the virus, it is also understood that, especially in an economic state such as Sri Lanka, a complete lockdown is hard to contain. A fairly large population survive on daily wages and do not have access to other necessities that will help make self-quarantine easy.

How can we balance this situation? When the country is not under an official lockdown or curfew state, there are methods that can help social distancing. One major way would be to go online. Sri Lanka has many platforms that offer basic needs such as grocery, medicine, transport, banking, clothing and other services online. Unfortunately, most of the elderly population are not comfortable using these online channels. Despite most of them owning a mobile phone with a data connection, it is very much limited to making calls or sending messages, and browsing social media at the most.

Therefore, apart from being responsible about their social activities, how can the youth be of help in shielding the older people from being exposed to Covid – 19?

Getting the elderly to use digital platforms that will help them in their day to day work, will ensure that their daily routines are not halted completely, while keeping a safe distance from public places and limiting social interaction.

Use your time at home to initiate your parents, uncles, aunts and grandparents into the digital world. Help them download the different apps, and teach them how to navigate it step-by-step. After all, they would have taught you how to do the most basic of acts such as walking and eating. Take them through that first online purchase, or first banking transaction, so that they feel confident. Talk to them about the security measures they need to know when using online payment methods, and educate them on data protection. Show them how convenient it is, and the fact that it is the safer option than crowding at supermarkets and pharmacies.

E-commerce can play an important role in limiting the increase of infections such as Covid – 19. Therefore it is the responsibility of the young people, who are online masters, to introduce the more vulnerable to a safer option that will help them ease their daily lifestyle.



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Lanka Business News is amongst the leading online Business News portals in Sri Lanka, unique for its focus on contemporary business news relevant across multiple industries operating in the country. We present not only the news, but a perspective based on observations and possible implications of a prevailing news item. LBN also provides an insight to the impact of a global economic or industrial development, thus helping stakeholders make informed and calculated decisions.




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