India is in talks with certain countries to adopt Rupay: Sitharaman

12 Oct 2022 , 08:58 AM

According to Union Finance Minister Nirmala Sitharaman, India is negotiating with many nations to have Rupay accepted in their country.

Not only that, but the BHIM app, NCPI (National Payments Corporation of India), and the UPI (Unified Payments Interface) are all currently being developed in such a way that their systems in each country, regardless of how reliable they may be, can communicate with our system. She claimed that this interoperability will strengthen Indians’ expertise in those nations.

In answer to a query from an Indian student at the University of Maryland who desired to have the UPI in the United States as well, Sitharaman responded, “We are working along with other nations.” During a fireside talk with renowned economist Eshwar Prasad at the esteemed Brookings Institute think tank, Sitharaman made the comments.

I attend the University of Maryland at this location. I’m quite proud of the UPI system we have in India. I simply wanted to know what you think about the UPI system’s future intentions and how we might spread awareness of them worldwide. The Indian student enquired, “Specifically in the US, that’s what I regret the most about India not having a UPI system there.”

Different nations are being spoken to. According to Sitharaman, Singapore, the UAE, and other nations have all expressed interest in accepting Rupay.

For feedback and suggestions, write to us at [e-mail]