India-Mauritius
Mauritius minister says launch of India's UPI, RuPay will bring two nations closer
Mauritius Foreign Minister Maneesh Gobin has said his government will deepen cooperation with the government of India on various issues.
Speaking to WION news channel, he said: "As an international financial centre, we have worked very very closely with India. We have reinforced the cooperation on the exchange of information."
When asked about how new measures like UPI, and the RuPay card will bring the two nations together, he said: "It will bring the two countries closer because it will facilitate exchange, trade, visits, and tourists. The less [lower] cost will increase the exchange between the two countries; not only India and Mauritius but other countries using the RuPay UPI system."
India's promising Unified Payment Interface (UPI) services were launched in Sri Lanka and Mauritius on Monday (February 12, 2024) in the virtual presence of PM Narendra Modi.
RuPay card services were also launched in Mauritius.
What did Indian PM Narendra Modi say during the event?
Underlining that fintech connectivity will further strengthen cross-border transactions and connections, Modi said: “India’s UPI or United Payments Interface comes in a new role today - Uniting Partners with India."
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.
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