New Delhi: India’s Unified Payment Interface (UPI) and RuPay card services are set to debut in Sri Lanka and Mauritius today in a virtual ceremony to be attended by Indian Prime Minister Narendra Modi and leaders from the two island nations.
The ceremony, organised by the Ministry of External Affairs (MEA), will feature the participation of Sri Lankan President Ranil Wickremesinghe and Mauritian Prime Minister Pravind Jugnauth alongside PM Modi. The launch will be held at 1 PM on February 12.
The UPI, developed by the National Payments Corporation of India (NPCI), facilitates instant real-time inter-bank transactions via mobile phones, while RuPay is a global card payment network with broad acceptance in shops, ATMs, and online platforms.
The move to introduce these Indian financial services in Sri Lanka and Mauritius showcases the strengthening economic ties between India and these nations. The MEA highlighted India’s leadership in fintech innovation and digital infrastructure, emphasising Prime Minister Modi’s commitment to sharing India’s developmental experiences with partner countries.
The expansion of UPI and RuPay services is expected to streamline digital transactions, benefiting citizens of both India and the host countries. Notably, it will enable Indian nationals traveling to Sri Lanka and Mauritius, as well as Mauritian nationals visiting India, to access UPI settlement services.
Furthermore, the extension of RuPay card services in Mauritius will allow local banks to issue RuPay cards, facilitating transactions both in India and Mauritius.
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