New Delhi: In a landmark move to strengthen digital connectivity and foster seamless financial transactions, Prime Minister Shri Narendra Modi, along with Sri Lankan President Mr. Ranil Wickremesinghe and Mauritian Prime Minister Mr. Pravind Jugnauth, will witness the launch of Unified Payment Interface (UPI) services in Sri Lanka and Mauritius, as well as RuPay card services in Mauritius. The historic event is scheduled for 12th February 2024 at 1 PM and will be conducted via video conferencing.
India has emerged as a global leader in Fintech innovation and Digital Public Infrastructure, and Prime Minister Modi has consistently emphasized the importance of sharing India’s developmental experiences and innovations with partner nations. Leveraging India’s strong cultural and people-to-people linkages with Sri Lanka and Mauritius, the launch aims to provide a faster and seamless digital transaction experience for a wide cross-section of people.
The introduction of UPI settlement services will particularly benefit Indian nationals traveling to Sri Lanka and Mauritius, as well as Mauritian nationals traveling to India. This move reflects the commitment to enhancing financial inclusion and connectivity between the nations, aligning with the vision of a digitally empowered global community.
Furthermore, the extension of RuPay card services in Mauritius marks a significant milestone. This initiative will allow Mauritian banks to issue cards based on the RuPay mechanism within Mauritius, facilitating the use of RuPay Cards for settlements both in India and Mauritius. The move is expected to enhance economic ties, promote tourism, and simplify financial transactions between the two countries.
The launch event, featuring the leaders of India, Sri Lanka, and Mauritius, underscores the collaborative efforts to strengthen regional ties and leverage technological advancements for the mutual benefit of the nations involved. As India shares its expertise in digital financial services, this initiative is poised to elevate the digital connectivity experience and contribute to the growth and development of Sri Lanka and Mauritius.
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