Prime Minister Narendra Modi attended the program through video conference at 1 pm on Monday. Sri Lankan President Ranil Wickremesinghe and Mauritius Prime Minister Pravind Jugnath also participated in this video conference.
UPI Payments: At that time Prime Minister Narendra Modi i.e. Congress leader Chidambaram Nosalu frowned that “the country will run towards digital currency”. He criticized “How can a digital currency be implemented in such a big country”. In the meantime, with the emergence of Paytm, the outbreak of the Covid epidemic, and the increase in the use of digital currency, radical changes have occurred in the country. Prime Minister Narendra Modi's words came true. At present companies like “Paytm, Google Pay, Phone Pay, Amazon Pay” are making digital payments in our country. All these are overseen by the “Unified Payment Interface” organization. On an average, digital payments worth hundreds of crores of rupees are made in our country every day. In this order, these services have also started in Sri Lanka and Mauritius from Monday.
Prime Minister Narendra Modi attended the program through video conference at 1 pm on Monday. Sri Lankan President Ranil Wickremesinghe and Mauritius Prime Minister Pravind Jugnath also participated in this video conference. “The launch of UPI services in Sri Lanka and Mauritius will enable fast, seamless digital transactions. Increasing digital connectivity through UPI will benefit thousands of people. UPI services will be useful for Indian citizens traveling to Sri Lanka and Mauritius, as well as for tourists coming to India from Mauritius and Sri Lanka. Extension of Rupee card services in Mauritius will be very useful for our tourists. Mauritius banks will be able to issue cards based on RuPay mechanism. India's Ministry of External Affairs said that the use of RuPay card for settlements in India and Mauritius will be very easy.
What is UPI?
According to the official website of National Payments Corporation of India, UPI is a system that works like a mobile application for multiple bank accounts. It is useful for banking features, fund routing, payments. UPI was first launched on 11 April 2016 by the Governor of Reserve Bank of India in Mumbai. UPI has been the biggest success in India as a fintech technology. This has contributed to the growth of digital payments in the country. According to International Payments Limited the Unified Payment Interface has more than 38 crore users in our country. Last month 1220 crore transactions were done through UPI.. Recently UPI services started in France as well. Tickets for visiting the Eiffel Tower in Paris can also be booked through the UPI mechanism.