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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 Lankan Rupee (Sinhala: රුපියල්, Tamil: ரூபாய்; symbol: රු (plural) in English, රු in Sinhala, ௹ in Tamil; ISO code: LKR) is the currency of Sri Lanka. It is subdivided into 100 cents ( Sinhala : සත , Tamil : சதம் ), but cents are rarely seen in circulation due to their low value.
State Bank of India (SBI) is an Indian multinational public sector bank and financial services statutory body headquartered in Mumbai, Maharashtra. It is the 48th largest bank in the world by total assets and ranked 178th in the Fortune Global 500 list of the world's biggest corporations of 2024, being the only Indian bank on the list. [ 11 ]
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.
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The Common Electronic Fund Transfer Switch (CEFTS) is a fully automated paperless fund transfer system which allows instantaneous fund transfers between member banks. [1] CEFTS is a real-time interbank fund transferring method and it is a vital integral part of Sri Lanka's trusted national payment network, which is operated by Lanka Clear under ...