The Unified Payment Interface (UPI) services will be launched in Sri Lanka and Mauritius on Monday. RuPay card services will also be launched in Mauritius on the same day.
Prime Minister Narendra Modi, Sri Lankan President Ranil Wickremesinghe, and Mauritius Prime Minister Pravind Jugnauth will attend the launch via video conferencing.
The launch will enable the availability of UPI settlement services for Indian nationals travelling to Sri Lanka and Mauritius as well as for Mauritian nationals travelling to India, a statement from the prime minister's office noted.
"The extension of RuPay card services in Mauritius will enable Mauritian banks to issue cards based on RuPay mechanism in Mauritius and facilitate usage of RuPay Card for settlements both in India and Mauritius."
The Reserve Bank of India (RBI) dubbed the move "historic."
PM of India @narendramodi, PM of Mauritius @MauritiusPM, and President of Sri Lanka to witness historic launch of UPI and RuPay connectivity with Mauritius and Sri Lanka #UPI - #RuPay on February 12, 2024 at 1:00 PM.— ReserveBankOfIndia (@RBI) February 11, 2024
Live at: https://t.co/8uDyl9x0A9@DasShaktikanta, @RBI,… pic.twitter.com/KwZL14xY2o
The government claimed that the launch will benefit a wide cross-section of people through a faster and seamless digital transaction experience and enhance digital connectivity between the countries, and added that PM Modi has placed a strong emphasis on sharing our development experiences and innovation with partner countries.