Sri Lanka, May 17 -- The People's Bank said that it is in the process of recovering approximately Rs. 656 million mistakenly paid to customers following a systemic exchange rate error in its remittance platform that affected transactions processed between May 2023 and March 2026.

In a media release issued on May 16, the state-owned bank said the error related to the application of the exchange rate for a single foreign currency within a specific remittance system, resulting in certain customers receiving excess amounts over the affected period. The bank said the issue has now been fully rectified.

Upon detecting the anomaly, People's Bank said it immediately initiated a detailed internal review and strengthened the relevant operational ...