India and Maldives have recently taken a significant step towards strengthening their economic partnership by signing an agreement to introduce the Unified Payments Interface (UPI) in the Maldives.
India and Maldives have just signed an agreement to introduce the Unified Payments Interface (UPI) in the Maldives, which is an important step towards enhancing their economic partnership.
During Jaishankar’s official visit to the Maldives, a Memorandum of Understanding (MoU) was signed, signifying a significant development in the bilateral relationship between the two nations.
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UPI, created by the National Payments Corporation of India (NPCI), is a rapid and real-time payment system that enables inter-bank transactions using mobile phones.
The use of UPI is expected to significantly enhance the tourism industry by streamlining payment procedures for both domestic and foreign tourists.
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