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HelaPay Transaction Growth
Comparison of transaction milestone achievements over time.
Primary Sources
Indians lose 2.5 billion dollars to digital fraud in 2025
In February, Alok (name changed), a business analyst based in the western Indian city of Pune, got a text message asking him to pay 1,000 rupees ($10.75; £7.9) as a speeding fine.The message asked him to settle the amount quickly to avoid his driving licence being suspended, prompting Alok to promptly click on the link to pay. He was asked to share an OTP (one-time password) to complete the payment.Minutes later, his credit card was charged $3,225, the maximum transaction limit.Alok had inadvertently authorised a much larger sum than what was supposed to be the fine, falling prey to a common scam in India where fraudsters send fake messages mimicking official websites that direct unsuspecting individuals to phishing links and drain their bank accounts.Experts call this a type of fraud "social engineering" - where scammers dupe their victims using psychological manipulation, instilling fear and urgency.India has seen an alarming rise in such fraud with the unprecedented adoption of digital payments in the country over the last half decade.Nearly 2.5 million people have lost some $2.5bn in 2025, a staggering 4,300% rise since 2021. The explosive jump in cases has finally prompted India's central bank, the Reserve Bank of India (RBI) to step in.In a discussion paper released earlier this month, the central bank said it was mulling several measures to tackle the problem.These include a one-hour lag at the payer's end in account-to-account transactions and additional authentication by a "trusted person" for high-value digital payments by vulnerable sections of society such as elderly people.The paper also talks about limits and reviews of large credits to customer accounts to ensure these aren't mules (accounts used for illegal transfer of money), and giving people more control to switch on/switch off digital payments and set limits like they can for cards.Several experts the BBC spoke to say that while the RBI's proactive stance is a welcome step, these proposals - which will be finalised after public comments and feedback - could end up having only a limited impact.The first proposal, for instance, to have lagged payments could be effectual in preventing OTP fraud of the type that Alok fell for, but in value terms such scams are a "minuscule proportion of the overall fraud landscape", Rajesh Bansal, former CEO of the RBI's Innovation Hub, told the BBC."These scams were the dominant variety three or four years ago, but frauds have now moved to another level, a...
Lanka Hospitals posts record revenue of Rs. 14.47 billion in 2025
Business Landmark IPO by Janashakthi Group; the largest in last 14 years Published 8 hours agoon 2026/04/30 Chairman Chandan de Silva delivering the keynote address. A Janashakthi Group (JXG) IPO was a landmark event for the local capital market, valued at over Rs. 5 billion, making it the largest IPO on the CSE in the last 14 years. ‘The company emphasises that the success of the issue was critical not only for the firm but also for the broader market sentiment, said Group Chairman Chandan de Silva. Senior Group leadership along with Founder and Chairman Emeritus Chandra Shafter rang the opening bell of the CSE, marking the successful conclusion of the IPO listing. The event was held recently at the CSE head office at the WTC building. De Silva making the keynote address said that market conditions were “hugely positive” when the IPO was initially approved in early February. He also said that this IPO was thrice oversubscribed and has more than 20000 shareholders throughout the country. However, a “drastic shift” in market sentiment occurred following the finalisation of the IPO, primarily driven by ongoing events in the Middle East, which created significant concerns regarding the offering’s success. To mitigate these risks, Janashakthi Limited engaged in proactive pre-marketing of the issue to both local and foreign investors. These investors provided firm commitments for substantial subscriptions, provided they were given reasonable assurances of receiving allocations based on their pre-commitments. The company stated that these preferential allotments were made based on practical considerations to ensure the IPO’s success while remaining within the Listing Rules of the CSE. By Hiran H Senewiratne Business HNB Life hosts first sales convention under new brand Published 8 hours agoon 2026/04/30 HNB Life recently hosted its first Sales Convention at the ITC Ratnadipa, following the launch of its new brand identity, bringing together its advisor distribution force to celebrate a year of exceptional performance and continued momentum. The event marked a significant milestone for the company, highlighting the strength and consistency of its advisor channel, which has delivered steady growth over the past five years. In 2025, the channel recorded an impressive 28% growth in Gross Written Premium (GWP) and a 25% increase in New Business Premium (NBP), reaffirming its critical role in driving the company’s success. A total of 622 awards were presented dur...
Lanka Hospitals Posts Record Rs. 14.47 Billion Revenue
Lanka Hospitals Corporation PLC has achieved a remarkable milestone by posting its highest revenue since inception, reaching Rs. 14.47 billion in 2025. This unprecedented financial performance represents a significant achievement for Sri Lanka's state-owned enterprise (SOE) sector and demonstrates the hospital's commitment to clinical excellence and operational efficiency. Record-Breaking ...
The women powering Sri Lanka's billion rupee lottery industry
Women lottery sellers in Sri Lanka quietly power a billion-rupee national industry, supporting families and funding education and healthcare through the Development Lotteries Board, proving resilience, entrepreneurship, and nation-building every day.
