43
[ad_1]
NEW DELHI: PM Narendra Modi on Monday said Indian tourists are likely to give priority to destinations with UPI link, while launching the payment service in Sri Lanka and Mauritius, along with Lankan President Ranil Wickremesinghe and Mauritius PM Pravind Jugnauth.
After this launch, UPI QR code can be used in two countries, while Rupay cards can also be used in Mauritius. Visitors from Mauritius can get Rupay cards from local banks for use in India, RBI said.
The PM, in his address, said that the launch marks a special day for three friendly nations – India, Sri Lanka and Mauritius – with the comments coming amid New Delhi’s tense relations with Maldives in recent weeks. While pitching it as a success of Global South cooperation, Modi said the launch of the fintech product will further strengthen cross-border payments and connections. “India’s UPI comes in a new role today – ‘Uniting Partners with India’,” he said.
The PM stressed that India’s policy is ‘Neighborhood First’. “Our maritime vision is SAGAR i.e. Security and growth for all in the region. India does not see its development separately from its neighbours.”
Recalling India’s support to neighbours and friends in cases of natural disasters and health-related issues, Modi said, “India has been the first responder and will continue to be so.” He also highlighted special attention towards concerns of the Global South even during India’s G20 presidency and mentioned setting up a ‘Social Impact Fund’ to extend the benefits of India’s digital public infrastructure to countries in the Global South.
Referring to the ‘vision document’ that was adopted during the last visit of the Sri Lankan president, the PM highlighted the strengthening financial connectivity as its key component. Last year, the Lankan authorities added the Indian rupee as a reserve currency list, the move coming after New Delhi played a crucial role at the IMF in securing a bailout package.
Sri Lanka joined Nepal and Bhutan among neighbours, where India’s UPI has a link with local fast payment counterparts. RBI governor Shaktikanta Das told reporters that Mauritius is the first African nation with which a UPI partnership has been established. “Mauritius can act as a gateway for other countries in Africa,” he said, while describing it as work in progress.
After this launch, UPI QR code can be used in two countries, while Rupay cards can also be used in Mauritius. Visitors from Mauritius can get Rupay cards from local banks for use in India, RBI said.
The PM, in his address, said that the launch marks a special day for three friendly nations – India, Sri Lanka and Mauritius – with the comments coming amid New Delhi’s tense relations with Maldives in recent weeks. While pitching it as a success of Global South cooperation, Modi said the launch of the fintech product will further strengthen cross-border payments and connections. “India’s UPI comes in a new role today – ‘Uniting Partners with India’,” he said.
The PM stressed that India’s policy is ‘Neighborhood First’. “Our maritime vision is SAGAR i.e. Security and growth for all in the region. India does not see its development separately from its neighbours.”
Recalling India’s support to neighbours and friends in cases of natural disasters and health-related issues, Modi said, “India has been the first responder and will continue to be so.” He also highlighted special attention towards concerns of the Global South even during India’s G20 presidency and mentioned setting up a ‘Social Impact Fund’ to extend the benefits of India’s digital public infrastructure to countries in the Global South.
Referring to the ‘vision document’ that was adopted during the last visit of the Sri Lankan president, the PM highlighted the strengthening financial connectivity as its key component. Last year, the Lankan authorities added the Indian rupee as a reserve currency list, the move coming after New Delhi played a crucial role at the IMF in securing a bailout package.
Sri Lanka joined Nepal and Bhutan among neighbours, where India’s UPI has a link with local fast payment counterparts. RBI governor Shaktikanta Das told reporters that Mauritius is the first African nation with which a UPI partnership has been established. “Mauritius can act as a gateway for other countries in Africa,” he said, while describing it as work in progress.
[ad_2]
Source link
