Sri Lanka annually spends around 1.5% of GDP to print, transport, distribute and maintain currency notes.
Therefore the country entire financial system should moved into a techno-based platform, said Amarasri Kumaratunge Director Payments and settlements Central Bank of Sri Lanka on Wednesday at the LankaClear, annual Technnovation Awards launch.He said over 60% of transaction especially in the retail sector is still done using hard cash and this is now becoming a social issue as well since most of them do not have bank accounts.