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The banking sector in Sri Lanka is monitored by the Bank Supervision Department of the Central Bank of Sri Lanka under the Banking Act, [1] Monetary Law Act [2] and the Exchange Control Act. [3] Three types of financial institutions are permitted under Banking Act and the Finance Companies Act to operate in Sri Lanka by the Central Bank of Sri ...
People's Bank; Sri Lanka Ayurvedic Drugs Corporation; Sri Lanka Broadcasting Corporation; Sri Lanka Bureau of Foreign Employment; Sri Lanka Cashew Corporation; Sri Lanka Cement Corporation; Sri Lanka Export Credit Insurance Corporation; Sri Lanka Handicrafts Board; Sri Lanka Land Reclamation & Development Corporation; Sri Lanka Ports Authority
Housing Development Finance Corporation Bank of Sri Lanka (HDFC) National Savings Bank; Regional Development Bank (Pradheshiya Sanwardhana Bank) Sanasa Development Bank; Sri Lanka Savings Bank; State Mortgage and Investment Bank; Source: Central Bank, September 2020 [2]
Under the terms of the merger, Dena Bank and Vijaya Bank shareholders received 110 and 402 equity shares of the Bank of Baroda, respectively, of face value ₹ 2 for every 1,000 shares they held. The merger came into effect on 1 April 2019. [15] Post-merger, the Bank of Baroda is the third largest bank in India, after State Bank of India and ...
The Sri Lanka Interbank Payment System, commonly known as SLIPS, is a LKR-only online interbank payment and fund transfer system in Sri Lanka. [1] [2]SLIPS is owned by LankaClear, an organization owned by the Central Bank of Sri Lanka and all Licensed Commercial Banks operating in Sri Lanka, with 47.19% of shares held by the CBSL and State owned commercial banks, and 52.81% by other private banks.
The Sri Lanka Interbank Payment System (or SLIPS in short) is the largest account-to-account fund transfer network in Sri Lanka. [2] Created by LankaClear, it enables member banks to carry out same-day transfers of up to Rs. 5 million, in a secure paperless process. [3] [4]
LankaPay has made rapid strides and mass transformation in facilitating robust, quick, and convenient ways of transferring funds through automated processes by initiating efficient payment systems in Sri Lanka through the launch of the Common Electronic Fund Transfer Switch, a real-time bank transfer procedure for payments to be processed ...
The service will be formally launched via video conference by President Ranil Wickremesinghe of Sri Lanka and Prime Minister Narendra Modi, according to the Reserve Bank of India (RBI). [224] PhonePe implemented cross-border UPI functionality with LankaPay on 15 May 2024. In Sri Lanka, Indian PhonePe users can pay with UPI by scanning the ...