PM Inaugurates UPI Services with Mauritius and Sri Lanka

·         After Nepal, Bhutan, Singapore and UAE in the Gulf in Asia, now from Mauritius, RuPay card is being launched in Africa

·         Sri Lankan President conveys greeting on consecration of Shri Ram Mandir

·         India’s policy is ‘Neighborhood First’. Our maritime vision is SAGAR i.e. Security And Growth for All in the Region

·         By connecting with UPI both Sri Lanka and Mauritius will benefit and digital transformation will get a boost

·         Be it natural disaster, health-related, economic or supporting on the international stage, India has been the first responder, and will continue to be so

·         Prime Minister of Mauritius, Mr Pravind Jugnauth informed that co-branded Rupay card will be designated as domestic card in Mauritius.

·         The extension of RuPay card services in Mauritius will enable Mauritian banks to issue cards based on RuPay mechanism in Mauritius and facilitate usage of RuPay Card for settlements in India and Mauritius.

 

[ABS News Service/12.02.2024]

The Prime Minister, Narendra Modi on 12 February, 2024 along with the President of Sri Lanka, Mr Ranil Wickremesinghe and the Prime Minister of Mauritius, Mr Pravind Jugnauth jointly inaugurated the launch of Unified Payment Interface (UPI) services in Sri Lanka and Mauritius, and also RuPay card services in Mauritius via video conferencing.

Prime Minister of Mauritius, Mr Pravind Jugnauth informed that co-branded Rupay card will be designated as domestic card in Mauritius. Today’s launch, the Prime Minister said, will greatly facilitate the citizens of both countries.

The Prime Minister 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. Speaking about the convenience and speed of UPI transactions, the Prime Minister informed that more than 100 billion transactions took place via UPI last year worth Rs 2 lakh crores or 8 trillion Sri Lankan rupees or 1 trillion Mauritius rupees. The Prime Minister also mentioned making last-mile delivery through the GEM Trinity of bank accounts, Aadhar and mobile phones where Rs 34 lakh crores or 400 billion US dollars has been transferred into the bank accounts of beneficiaries. The Prime Minister informed that with CoWin Platform India conducted the world's biggest vaccination programme. “Use of technology is promoting transparency, reducing corruption and increasing inclusivity in society”, the Prime Minister said.

The Prime Minister stressed that “India’s policy is ‘Neighborhood First’. Our maritime vision is SAGAR i.e. Security and growth for all in the region. India does not see its development separately from its neighbors.”

The Prime Minister expressed the confidence that connection with UPI will benefit Sri Lanka and Mauritius and digital transformation will get a boost, local economies will witness positive change and tourism will be promoted. “I am confident that Indian tourists will give priority to destinations with UPI. People of Indian origin living in Sri Lanka and Mauritius and students studying there will also get special benefits from it”, the Prime Minister added. PM Modi expressed delight that after Nepal, Bhutan, Singapore and UAE in the Gulf in Asia, now from Mauritius RuPay card is being launched in Africa. This will also facilitate the people coming to India from Mauritius. The need to buy hard currency will also reduce. The UPI and RuPay card system will enable real-time, cost-effective and convenient payments in our own currency. In the coming time, we can move towards cross-border remittances i.e. Person to Person (P2P) payment facility, the Prime Minister added.

Concluding the address, the Prime Minister extended his heartfelt gratitude towards President Ranil Wickremesinghe and Prime Minister Pravind Jugnauth who played a vital role in today’s launch. He also thanked the central banks and agencies of the three countries for making this launch successful.

Background

India has emerged as a leader in Fintech innovation and Digital Public Infrastructure. The Prime Minister has strongly emphasized sharing our development experiences and innovation with partner countries. Given India’s robust cultural and people-to-people linkages with Sri Lanka and Mauritius, the launch will benefit a wide cross-section of people through a faster and seamless digital transaction experience and enhance digital connectivity between the countries.

The launch will enable the availability of UPI settlement services for Indian nationals travelling to Sri Lanka and Mauritius as well as for Mauritian nationals travelling to India. The extension of RuPay card services in Mauritius will enable Mauritian banks to issue cards based on RuPay mechanism in Mauritius and facilitate usage of RuPay Card for settlements in India and Mauritius.