India's Unified Payment Interface (UPI) services made their debut in Sri Lanka and Mauritius on Monday, marking a significant milestone in the digital connectivity between the three nations. Prime Minister Narendra Modi hailed the occasion as a "special day" symbolizing the fusion of historic bonds with contemporary digital advancements.
During a virtual ceremony attended by Prime Minister Modi, Mauritian Prime Minister Pravind Jugnauth, and Sri Lankan President Ranil Wickremesinghe, India's RuPay card services were also introduced in Mauritius.
Modi underscored the transformative role of India's UPI, remarking that it now serves as a catalyst for uniting partners with India. He stressed the mutual benefits Sri Lanka and Mauritius would reap from the UPI system, aligning with India's commitment to its "neighbourhood first policy."
Highlighting the impact of digital infrastructure in India, Modi emphasized the country's readiness to extend support in various domains, ranging from natural disasters to international cooperation.
The expansion of Indian services to Sri Lanka and Mauritius comes amidst burgeoning economic ties, enhancing UPI settlement services for travelers between the countries.
Developed by the National Payments Corporation of India (NPCI), UPI facilitates real-time inter-bank transactions via mobile phones. RuPay, India's global card payment network, enjoys widespread acceptance at various points of sale.
Modi reiterated India's dedication to people-centric development, emphasizing the role of fintech connectivity in bolstering cross-border transactions.
The prime minister highlighted the exponential growth of UPI transactions, signaling its efficiency and convenience. He also emphasized the pivotal role of technology in promoting transparency and inclusivity.
Reaffirming India's 'Neighborhood First' policy, Modi stressed the importance of regional cooperation for mutual growth and security. He expressed optimism regarding the benefits UPI would bring to Sri Lanka and Mauritius, fostering digital transformation.
Modi expressed delight at the launch of RuPay cards in Mauritius, foreseeing enhanced real-time payment options in local currencies.
Furthermore, Modi underscored the significance of the launch in strengthening global south cooperation, emphasizing the historical ties and people-to-people relations between the three nations.
Prime Minister Jugnauth announced the designation of co-branded RuPay cards as domestic cards in Mauritius, enhancing their accessibility.
President Wickremesinghe extended congratulations to Modi on the Ram Mandir consecration ceremony in Ayodhya, expressing a commitment to deepen bilateral ties and connectivity between Sri Lanka and India.
Read Also | Unified Payments Interface (UPI) Goes Global with Launch at the Eiffel Tower in France
Read Also | New Year Brings Significant Changes to UPI Transactions
