South Africa tour of India 2019
India Introduces UPI Payment System in the Maldives
India and the Maldives have signed an agreement to introduce the Unified Payments Interface (UPI) in the Maldives, a move expected to boost the island nation's tourism sector.
The agreement was formalized during Indian External Affairs Minister S. Jaishankar's visit to the Maldives. Developed by the National Payments Corporation of India (NPCI), UPI is a real-time payment system that has revolutionized digital transactions in India, contributing to financial inclusion.
Jaishankar emphasized that this initiative would significantly impact Maldivian tourism, a major contributor to the nation's GDP. The introduction of UPI marks a new phase in the bilateral relationship, aiming to enhance economic cooperation and mutual development between the two countries.
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