Diplomacyindia.com

UPI goes live in Sri Lanka

UPI goes live in Sri Lanka
February 12
18:23 2024

Colombo, 12 February 2024: Prime Minister of India, Narendra Modi along with the President of Sri Lanka, Ranil Wickremesinghe and the Prime Minister of Mauritius, 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 today.

President Wickremesinghe congratulated Prime Minister Modi for the consecration of Ram Mandir at the Ayodhya Dham. He also emphasized the centuries-old economic relations. The President hoped to maintain the momentum of connectivity and deepening of the relationship between the two countries.

Addressing the occasion, the Prime Minister said that today marks a special day for three friendly nations of India, Sri Lanka and Mauritius when their historic connections take the form of modern digital connect. He said that it is proof of the government’s commitment towards the development of the people. The Prime Minister underlined FinTech connectivity will further strengthen cross-border transactions and connections. “India’s UPI or United Payments Interface comes in a new role today – Uniting Partners with India”, the Prime Minister emphasized.

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 INR 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 JAM Trinity of bank accounts, Aadhar and mobile phones wherein 400 billion US dollars has been transferred into the bank accounts of beneficiaries. He 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 neighbours.”

Referring to the Vision Document that was adopted during the last visit of the Sri Lankan President, the Prime Minister highlighted the strengthening financial connectivity as its key component. 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.

The Prime Minister underlined that today’s launch symbolizes the success of Global South cooperation. “Our relations are not just about transactions, it is a historical relation”, PM Modi emphasized highlighting the strength of people-to-people relations between the three nations. Drawing attention to India supporting its neighbouring friends in the last ten years, the Prime Minister said that India stands with its friends in every hour of crisis, be it natural disasters, health-related issues, economic or support on the international stage.

“India has been the first responder and will continue to be so”, the Prime Minister underlined. PM Modi also highlighted the special attention towards the concerns of the Global South even during India’s G20 presidency. He mentioned setting up a Social Impact Fund to extend the benefits of India’s digital public infrastructure to countries in the Global South.

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.

With guidance from the Reserve Bank of India and the Central Bank of Sri Lanka, NPCI International Payments Limited of India and Lanka Pay of Sri Lanka have collaborated for enabling the acceptance of UPI services through LankaQR. This will allow merchants in Sri Lanka to accept seamless digital payments from Indian tourists.Such interlinkage will generate ease among Indian tourists benefitting Sri Lanka’s tourism industry, as well as fostering greater connectivity in the FinTech and digital domain. High Commission of India also organised a live screening of the launch event, which was attended in large numbers by representatives of banks, business and Indian community in Colombo.

About Author

admin

admin

Related Articles

0 Comments

No Comments Yet!

There are no comments at the moment, do you want to add one?

Write a comment

Write a Comment

Dr Meena Singh Roy speaking on Uzbekistan Constitutional Reform Referendum 2023

On the Eve of 30th Years of Independence of Republic of Uzbekistan, H.E. Dilshod Akhatov, Ambassador of Uzbekistan to India in conversation with Ameya Sathaye, Editor-in-Chief.

Denmark Ambassador to India Freddy Svane in conversation with Amb Pradeep Kapur & Ameya Sathaye, Editor-in-Chief

Italy india will work closely together for G20 : Italy Envoy to India

Do you know why FINLAND is ranked number ONE in Happiness index, watch this interview with Finland Ambassador to India

Exclusive Interview : H.E. Jasem Ibrahem Al Najem Ambassador of Kuwait to India speaks on India Kuwait bilateral relations

ड्रैगन ने हाथी को क्यों डसा, भारत- चीन रिश्तों की कहानी- रंजीत कुमार के साथ अमेय साठे की विषेष चर्चा ड्रैगन ने हाथी को क्यों डसा, भारत- चीन रिश्तों की कहानी- रंजीत कुमार के साथ अमेय साठे की विषेष चर्चा 0 comment Read Full Article

H.E. Reuben Gauci, Ambassador of Malta to India speaks on India-Malta Bilateral Relations

Portugal supports India in covid crisis : Portugal Ambassador Carlos Pereira Marques speaks with Ameya Sathaye, Editor-in-Chief

Vietnam Ambassador to India, Pham Sanh Chau speaks on Vietnam support to India in tackling covid crisis

Netherlands supports India in covid crisis : Netherlands Ambassador Marten van den Berg speaks with Ameya Sathaye

Envoy Speaks : Gopal Baglay, Indian High Commissioner to Sri Lanka speaks on Bilateral relations, business opportunities, Tourism & people to people to people contacts

Kuwait reciprocates, we stand with India in this hour of crisis : Kuwait Ambassador to India

Canadian High Commissioner, Nadir Patel speaking on support to India in covid crisis

Italian Ambassador to India, Vincenzo de Luca speaking on Italy support to India in covid crisis

H.E. Mr. Reuben Gauci, Malta High Commissioner to India speaks with Ameya Sathaye, Editor-in-Chief of Malta support to India in covid crisis

Danish Ambassador to India Freddy Svane speaking on Denmark aid to India

Video Interview with Vinod Daniel, CEO, India Vision Institute, Board Member, International Council of Museums & Chairman, Ausheritage

DENMARK AMBASSADOR FREDDY SAVNE VISIT TO CORONOVIRUS VACCINE FACILITY AT HYDERABAD, A TRIP ORGANISED BY MINISTRY OF EXTERNAL AFFAIRS, GOVT OF INDIA FOR FOREIGN ENVOYS BASED IN INDIA.

MALTA HIGH COMMISSIONER TO INDIA, H.E. REUBEN GAUCI SHARING HIS IMPRESSION ABOUT HIS VISIT TO HYDERABAD : TRIP ORGANISED BY MINISTRY OF EXTERNAL AFFAIRS, GOVERNMENT OF INDIA FOR ENVOYS BASED IN INDIA TO UPDATE ON CORONAVIRUS VACCINE

H.E. Mr. Dinesh Bhatia, Ambassador of India to Argentina in conversation with Ameya Sathaye, Editor-in-Chief

Pictures of Formal Launch of Website Diplomacyindia.com

Exclusive Interview with Prime Minister of Guyana, H.E. Mr. Moses Veerasammy Nagamootoo during his recent visit to India.Highlights of the interview were Indian Cultural Connect, Vibrant Bilateral Ties and Cultural Connect and India’s Economic Prowess.

Video Message from Shri Prakash Javadekar, MoS (IC) for Forest, Environment & Climate Change on eve of Formal Launch of Website Diplomacyindia.com

Message from Gen. V K Singh, (Retd.) Hon’ble MoS, External Affairs to Diplomacyindia.com