Tourists to prefer spots with UPI link, says PM Modi

Feb 12, 2024

New Delhi: PM Narendra Modi said on Monday that Indian tourists There is a possibility of giving preference to destinations with UPI linkwhile launching payment service In Sri Lanka and Mauritius, with President of Sri Lanka Ranil Wickremesinghe and Prime Minister of Mauritius Pravind Jugnauth.
After this launch, UPI QR code can be used in two countries, while RuPay card can also be used in Mauritius. RBI said tourists from Mauritius can obtain RuPay cards from local banks for use in India.
The PM, in his address, said the launch is a special day for three friendly countries – India, Sri Lanka and Mauritius – with the comments coming amid New Delhi's strained relations with the Maldives in recent weeks. Calling it a success of Global South cooperation, Modi said the launch of the fintech product will further strengthen cross-border payments and connections. “India's UPI today takes on a new role – 'uniting partners with India',” he said.
The PM emphasized that India's policy is 'neighbourhood first'. “Our maritime vision is SAGAR i.e. security and development for all in the region. India does not see its development in isolation from its neighbours.”
Recalling India's support to neighbors and friends on natural disasters and health issues, Modi said, “India has been and will continue to be a first responder.” He also highlighted the special focus given to the concerns of the Global South during India's Chairmanship of the G20 and mentioned the establishment of a 'Social Impact Fund' to extend the benefits of India's digital public infrastructure to countries in the Global South.
Referring to the 'Vision Document' adopted during the previous visit of the Sri Lankan President, the PM highlighted strong financial connectivity as its key component. Last year, Lankan authorities had added the Indian rupee as a reserve currency list, a move that came after New Delhi played a key role in securing the bailout package at the IMF.
Sri Lanka joins neighbors Nepal and Bhutan, where India's UPI has links with local instant payment counterparts. RBI Governor Shaktikanta Das told reporters that Mauritius is the first African country with which UPI partnership has been established. Describing it as a work in progress, he said, “Mauritius can act as a gateway to other countries in Africa.”

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