PM Modi jointly inaugurates UPI, RuPay card services in Sri Lanka, Mauritius
Upstox
2 min read • Updated: February 12, 2024, 4:03 PM
Summary
At the launch ceremony, PM Modi underlined that digital public infrastructure has brought about a revolutionary change in India, where the smallest of vendors in the remotest of villages are transacting via UPI and making digital payments
Prime Minister Narendra Modi, Sri Lankan President Ranil Wickremesinghe and Mauritian Prime Minister Pravind Jugnauth jointly launched Unified Payment Interface (UPI) services in Sri Lanka and Mauritius on Monday. They also launched RuPay card services in Mauritius via a virtual event .
The joint inauguration ceremony marked a significant milestone in digital connectivity among India, Sri Lanka, and Mauritius. Prime Minister Jugnauth announced that the co-branded RuPay card would be designated as a domestic card in Mauritius, streamlining transactions for citizens of both nations.
President Wickremesinghe commended the Prime Minister for the recent consecration of the Shri Ram Mandir in Ayodhya, emphasising the longstanding economic ties between Sri Lanka and India. He expressed hope for continued connectivity and deepening relations between the two countries.
Addressing the event, Prime Minister Modi hailed the launch as a testament to India's commitment to uplifting its neighbours through technological advancement. He underscored the role of fintech connectivity in facilitating cross-border transactions, emphasising India's UPI as a unifying force among partner nations.
PM Modi highlighted India's digital transformation, citing over 100 billion transactions worth billions in various currencies conducted via UPI last year. He also mentioned the successful utilisation of technology in initiatives like the CoWin platform for vaccination and the GEM Trinity for financial inclusion.
PM Modi expressed confidence that the UPI and RuPay card launch would catalyse digital transformation, boost local economies, and promote tourism. He highlighted benefits for Indian tourists, people of Indian origin in Sri Lanka and Mauritius, and students studying in these countries.