Key Points
Indias Unified Payments Interface (UPI) services were officially launched in Sri Lanka and Mauritius, following a weeks rollout in France...
The launch event was attended virtually by Indian Prime Minister Narendra Modi, alongside his Mauritian counterpart Pravind Jugnauth and Sri Lankan President Ranil Wickremesinghe...
The introduction of UPI services in these countries will facilitate easier and faster digital transactions for Indian nationals traveling to Sri Lanka and Mauritius..
"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 government said...
UPI began its journey in India with a pilot launch on April 11, 2016, and has since evolved into a system that consolidates multiple bank accounts into a single mobile application, offering a range of banking features, seamless fund routing, and merchant payments...
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