Reetu | Feb 12, 2024 |
India’s UPI to be launched in Sri Lanka and Mauritius Today
India’s Unified Payment Interface (UPI) services have been launched in Sri Lanka and Mauritius. Prime Minister Narendra Modi, President of Sri Lanka Ranil Wickremesinghe, and Prime Minister of Mauritius Pravind Jugnauth attended the launch of UPI services across the island nations.
The RuPay card services were also launched in Mauritius.
Speaking at the event, Mr Modi stated that today is a memorable day for three friendly countries in the Indian Ocean. He stated that historical relationships are being connected in a new digital fashion. According to the Prime Minister, this demonstrates the government’s dedication to human development. He stated that Fintech connectivity will improve both cross-border transactions and cross-border connections.
Mr Modi stated that India’s Unified Payments Interface (UPI) now has a new responsibility: uniting partners with India. He was confident that Sri Lanka and Mauritius would profit from UPI services. The Prime Minister stated that Digital Public Infrastructure has resulted in a revolutionary change in India.
He stated that even the smallest businessman in the smallest community makes digital payments since they are both convenient and fast.
The Prime Minister stated that India’s policy is Neighbourhood First. He stated that India’s marine vision is SAGAR (Security and Growth for All in the Region). Mr Modi stated that the goal is peace, security, and development in the region. He also stated that India does not consider its progress in isolation from its neighbouring countries.
He stated that during the COVID pandemic, India conducted the world’s largest vaccination drive using the COWIN platform. According to the Prime Minister, the use of technology has increased transparency, reduced corruption, and made the economy more inclusive. He stated that people today have greater trust in the government than ever before.
Sri Lankan Prime Minister Ranil Wickremasinghe stated in his statement that payments between India and Sri Lanka have occurred for thousands of years. He stated that museums in Sri Lanka have a collection of South Indian coins dating back over a thousand years that were discovered in various regions of villages or the dry zone.
Mr Wickremasinghe stated that it shows that the South Indian commerce corporations were quite active, even in the countryside. He stated that the programme is now only being upgraded technologically.
The Sri Lankan President stated that when more Indian tourists visit Sri Lanka, this will be implemented in every village. He complimented Mr Modi on the opening of the Ram Mandir.
In his speech, Mauritius Prime Minister Pravind Jugnauth stated that India and Mauritius have significant cultural, commercial, and people-to-people ties that extend back centuries. He stated that today, another layer has been added to their relationship.
Mr Jugnauth said that the Rupay card has been co-branded with the national payment switch, and the MoCAS will serve as the domestic card in Mauritius. He stated that one of the highlights of the G-20 conference during India’s leadership was the pledge to expand access to digital services and digital public infrastructure, as well as to embrace digital transformation opportunities to boost sustainable and inclusive growth.
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