India Expands: India has expanded its Unified Payment Interface (UPI) services in Sri Lanka and Mauritius, along with the introduction of RuPay card services in Mauritius.
This initiative is in line with New Delhi’s efforts to strengthen bilateral economic ties with Sri Lanka and Mauritius, signifying a significant advancement in digital connectivity and financial collaboration among these nations.
India Expands UPI…
The Ministry of External Affairs (MEA) highlighted India’s leadership in Fintech innovation and Digital Public Infrastructure, with the Prime Minister emphasizing the sharing of developmental experiences and innovation with partner countries.
Underlining India’s rich cultural and people-to-people connections with Sri Lanka and Mauritius, the MEA stressed that this launch would enhance digital transaction experiences, benefiting a wide spectrum of individuals.
Additionally, the introduction of UPI settlement services will streamline transactions for Indian nationals visiting Sri Lanka and Mauritius, as well as for Mauritian nationals traveling to India.
The extension of RuPay card services in Mauritius represents a significant development, allowing Mauritian banks to issue RuPay-based cards. This move is poised to facilitate RuPay card usage for settlements in both India and Mauritius, promoting greater financial integration and support between the countries.
The expansion of UPI and RuPay services underscores India’s commitment to fostering digital connectivity and financial inclusivity across borders, while also strengthening economic relationships with its neighbouring countries in the Indian Ocean region.
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