India’s Unified Payments Interface (UPI) services were officially launched in Sri Lanka and Mauritius during a virtual event held on Monday. The ceremony was graced by the presence of Prime Minister Narendra Modi, Mauritian Prime Minister Pravind Jugnauth, and Sri Lanka’s President Ranil Wickremesinghe.
The introduction of Indian services in Sri Lanka and Mauritius coincides with New Delhi’s growing bilateral economic relations with both nations.
Last year, a significant Memorandum of Understanding (MoU) was exchanged between the Reserve Bank of India and the Central Bank of UAE, with the objective of connecting the payment and messaging systems of both countries. The MoU also aimed to facilitate seamless integration between India’s Unified Payments Interface (UPI) and the UAE’s Instant Payments Platform (IPP).
