India in talks with several countries to make Rupay acceptable: Finance Minister

Finance Minister Nirmala Sithraman told that India is talking to several countries to make Rupay acceptable to their citizens.

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Finance Minister Nirmala Sithraman told that India is talking to several countries to make Rupay acceptable to their citizens. She said this in response to a University of Maryland student when he asked about Rupay being introduced in the US.

“I’m a student at the University of Maryland here. I am really proud of our UPI system in India. I just wanted to ask, what do you think are the future plans for the UPI system and how can we share it with the world? Specifically in the US, that’s what I miss the most about India not having a UPI system in the US,” the Indian student asked.

In response to the question the Finance Minister said, “We are talking to different countries. Singapore and UAE have all come forward now to make Rupay acceptable in their countries,” Sitharaman said.

 

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“Not just that, the UPI (Unified Payments Interface), the BHIM app, and NCPI (the National Payments Corporation of India) are all now being worked in such a way that their systems in their respective country, however, robust or otherwise can talk to our system and the inter-operability itself will give strength for Indians expertise in those countries,” she said.

During a fireside talk with renowned economist Eshwar Prasad at the esteemed Brookings Institute think tank, Sitharaman made the comments.