People's Bank Reports Rs 656 Million Loss Due to Exchange Rate Error

People's Bank has officially announced a significant financial impact stemming from a technical error in its remittance system. The error, which occurred between May 2023 and March 2026, involved an incorrect exchange rate calculation for a single currency, leading to certain customers receiving excess payments. The state-owned bank estimates the total financial impact of this oversight to be approximately Rs. 656 million. People's Bank has confirmed that the technical fault has been fully rectified and has initiated efforts to recover the overpaid amounts.