Correct option is C
Recently, the Prime Minister of India, 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. UPI is a revolutionary digital payment system developed by the NPCI (National Payments Corporation of India), enabling instant fund transfers and payments. This step aims to enhance seamless digital transactions and foster economic ties between India and these nations. Specifically, UPI services and RuPay card services have been launched in Mauritius to enable digital financial inclusion, showcasing India's commitment to promoting digital public infrastructure internationally.
Information Booster
· Mauritius and Sri Lanka: Both countries now have UPI services for seamless digital payments.
· RuPay in Mauritius: Locally issued RuPay cards allow cashless transactions through the MauCAS network.
· Economic Cooperation: UPI services are part of India’s strategy to foster regional partnerships under the “neighborhood first” policy.
· NPCI Role: The projects were executed by NPCI International Payments Ltd (NIPL) with support from the Reserve Bank of India.
· Ease of Transactions: UPI enables real-time payments and QR code-based merchant transactions.
· Global Adoption: UPI has already been launched in France, UAE, Bhutan, Nepal, Singapore, and Mauritius.
· Strategic Importance: Strengthens India’s influence in the Indian Ocean region.
Additional Knowledge
Thailand
· UPI services have not yet been launched in Thailand.
Myanmar
· UPI services have not been extended to Myanmar either, as of now.
Mauritius
· Mauritius has adopted UPI services, allowing users to conduct real-time digital transactions.
· RuPay cards are also locally issued in Mauritius via the MauCAS network, facilitating cashless payments.
· This marks Mauritius as the first African country to integrate India's UPI and RuPay technologies.
English
150 Questions
150 Marks
150 Mins
