Sri Lanka, Jan. 29 -- The Central Bank of Sri Lanka (CBSL) is investigating 18 institutions and individuals allegedly involved in illegal deposit-taking from the public under the guise of forest and plantation-based investment schemes, Central Bank Governor Dr. Nandalal Weerasinghe said yesterday.

Speaking at a media briefing at the Central Bank to announce the first Monetary Policy Statement for this year, the Governor said that accepting funds from the public with a promise of repayment amounts to illegal deposit-taking under the Financial Business Act.

Dr. Weerasinghe said that investigations into the identified entities and individuals are currently ongoing, adding that legal action is expected to follow based on the findings.

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