Nepal is taking India’s support for digital economy, after UPI launched indigenous RuPay card, know what will be the benefit of it

Rupay card launched in Nepal.

Old relations between India and Nepal (India Nepal relationTo give new dimensions to India, India is continuously taking steps towards making its neighboring country financially strong. PM Narendra Modi to take the relationship between the two countries to new heights.Narendra Modi) and Nepal’s Prime Minister Sher Bahadur Deuba (Sher Bahadur Deuba) has indigenously developed Rupay card ,RuPay Card) was launched in Nepal. It is believed that this will strengthen bilateral tourism between the two countries. Apart from this, there will be a financial link between the people of both the countries. In this way Nepal became the fourth country to issue RuPay card. Apart from Nepal, RuPay cards are operated in Bhutan, Singapore and United Arab Emirates. Let us inform that Nepal’s Prime Minister Sher Bahadur Deuba is on a three-day visit to India from Saturday. He has also met PM Modi.

Prime Minister Modi and Deuba launched this card after holding talks on a wide range of issues including cooperation in the areas of trade, investment and energy. PM Modi said in a statement after the conversation, ‘The introduction of RuPay card in Nepal will add a new chapter to our financial relationship.’ The RuPay card scheme was launched in 2012 as part of the Reserve Bank of India’s vision of a domestic, open and multilateral system of payment.

The introduction of RuPay card in Nepal will add a new chapter in our financial connectivity.

Other projects like Nepal Police Academy, Integrated Check Post in Nepalganj, Ramayana Circuit etc. will also bring the two countries closer: PM @narendramodi

— PMO India (@PMOIndia) April 2, 2022

Payment ecosystem will be strong

People associated with this scheme said that the introduction of the card in Nepal will create a new path for financial convenience and empowerment with the use of technology and innovations. He said that this will not only make payments easier for RuPay card holders but will also strengthen the payment ecosystem capabilities of Nepal.

Nepal has also adopted the UPI system

Earlier Nepal had adopted the Indian digital transaction system UPI. Apart from India, Nepal is the first country to have adopted UPI. Regarding this, the National Payments Corporation of India (NPCI) had said that Nepal has become the first country to adopt India’s UPI system, which will help significantly in strengthening the neighboring country’s digital economy. NPCI International Payments Limited (NIPL), the international arm of NPCI, has joined hands with Gateway Payments Service (GPS) and Manam Infotech to offer services in Nepal. GPS is the authorized payment system operator in Nepal. Manam Infotech will implement Unified Payments Interface (UPI) in Nepal. NPCI said in a statement that this alliance will increase convenience for the people in Nepal and will encourage digital transactions.

Nepal benefits from UPI

On the other hand, Rajesh Prasad Manandhar, Chief Executive Officer (CEO) of GPS said that the UPI service has made a huge positive impact in terms of digital payments in India. “We are hopeful that UPI will play an important role in transforming the digital economy in Nepal and creating a less cash society.

Deuba on her first visit to India

Sher Bahadur Deuba has visited India for the first time after becoming the Prime Minister of Nepal. He became the Prime Minister of Nepal in July 2021. Chinese Foreign Minister Wang Yi visited Nepal last week. After that the visit of the Prime Minister of Nepal to India becomes very important.

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