Prime Minister Narendra Modi and Sri Lankan President Ranil Wickremesinghe Launch UPI Services with Mauritius

  • Prime Minister Narendra Modi, along with Sri Lankan President Ranil Wickremesinghe, and Mauritius Prime Minister Pravind Jugnauth, jointly inaugurated the launch of Unified Payment Interface (UPI) services in Sri Lanka and Mauritius. 
  • The Prime Minister emphasized the role of UPI in uniting partners with India, highlighting its revolutionary change in India. 
  • The Prime Minister highlighted the convenience and speed of UPI transactions, with over 100 billion transactions taking place last year worth Rs 2 lakh crores or 8 trillion Sri Lankan rupees or 1 trillion Mauritius rupees. 
  • The Prime Minister also highlighted the use of technology in promoting transparency, reducing corruption, and increasing inclusivity in society. 
  • The Prime Minister emphasized the importance of financial connectivity, referring to the Vision Document adopted during the last visit of the Sri Lankan President. 
  • The Prime Minister expressed confidence that the connection with UPI will benefit Sri Lanka and Mauritius, boost local economies, and promote tourism. 
  • The Prime Minister also expressed delight that after Nepal, Bhutan, Singapore, and UAE, RuPay card services will be launched in Africa from Mauritius. 
  • The Prime Minister emphasized the success of Global South cooperation and the strength of people-to-people relations between the three nations. 
  • The Prime Minister also highlighted India’s support for its neighboring friends in every hour of crisis, highlighting its role as the first responder. 
  • The Prime Minister thanked the central banks and agencies of the three countries for making the launch successful.
Posted in Current Affairs.