https://sputniknews.in/20230721/india-launches-upi-digital-payments-system-in-sri-lanka-modi-says-3116138.html
India Launches UPI Digital Payments System in Sri Lanka, Modi Says
India Launches UPI Digital Payments System in Sri Lanka, Modi Says
Sputnik India
India and Sri Lanka have signed a network-to-network agreement to launch New Delhi’s domestic digital payments’ platform Unified Payments Interface (UPI) in Sri Lanka.
2023-07-21T14:41+0530
2023-07-21T14:41+0530
2023-07-21T14:41+0530
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India and Sri Lanka have signed a network-to-network agreement to launch New Delhi’s domestic digital payments’ platform Unified Payments Interface (UPI) in Sri Lanka.The announcement was made at a joint press statement after bilateral talks between Prime Minister Narendra Modi and Sri Lankan President Ranil Wickremesinghe in New Delhi.Wickremesinghe said that Sri Lanka was “pleased” to welcome Indian assistance in digital technology.A total of five MoUs were exchanged between India and Sri Lanka after the talks.India, Sri Lanka to Boost Connectivity, Economic TiesDescribing ties between India and Sri Lanka as “ancient” and “civilizational”, Prime Minister Modi said that the two leaders exchanged views on bilateral, regional and global issues of concern.He said that the security and progress of the two countries were linked to each other and called for respect for each other’s “sensitivities”.Modi said that a stable Sri Lanka was in the interest of not only India, but the entire Indian Ocean Region (IOR).Modi said that the two countries will also launch “feasibility studies” for a petroleum pipeline connecting the two nations as well as on a “land bridge.”The provision calls for a devolution of power which would benefit the island nation’s Tamil minority group.Modi said that India would increase its developmental assistance to the northern and eastern parts of Sri Lanka, where most of the Tamilian population is concentrated.For his part, Wickremesinghe said that enhancing economic ties with India remained “critical” for Sri Lanka.India has been one of the biggest bilateral lenders to Sri Lanka in the last two years, having provided assistance worth $4 billion amid the country’s worst financial crisis.
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India Launches UPI Digital Payments System in Sri Lanka, Modi Says
Indian Prime Minister Narendra Modi and Sri Lankan President Ranil Wickremesinghe held delegation-level talks at New Delhi’s Hyderabad House on Friday.
India and Sri Lanka have signed a network-to-network agreement to launch New Delhi’s domestic digital payments’ platform Unified Payments Interface (UPI) in Sri Lanka.
The announcement was made at a joint press statement after bilateral talks between Prime Minister Narendra Modi and Sri Lankan President Ranil Wickremesinghe in New Delhi.
Modi said that the decision to introduce UPI in Sri Lanka would boost fintech connectivity between the two countries.
Wickremesinghe said that Sri Lanka was “pleased” to welcome Indian assistance in digital technology.
“Enabling UPI-based digital payments in Sri Lanka would immediately facilitate future growth,” he said
A total of five MoUs were exchanged between India and Sri Lanka after the talks.
The other agreements comprised a Joint Declaration of Intent on Animal Husbandry, an MoU on Cooperation in Renewable Energy, a Memorandum of Cooperation for economic development in Trincomalee (eastern Sri Lanka) and a pact for an energy permit for a solar power project in Sri Lanka.
India, Sri Lanka to Boost Connectivity, Economic Ties
Describing ties between India and Sri Lanka as “ancient” and “civilizational”, Prime Minister Modi said that the two leaders exchanged views on bilateral, regional and global issues of concern.
“Sri Lanka plays an important role in India’s Neighborhood First Policy and the SAGAR (Security and Growth for All in the Region) vision,” the Indian leader stated.
He said that the security and progress of the two countries were linked to each other and called for respect for each other’s “sensitivities”.
Modi said that a
stable Sri Lanka was in the interest of not only India, but the entire Indian Ocean Region (IOR).
Modi said that the two countries will also launch “feasibility studies” for a petroleum pipeline connecting the two nations as well as on a “land bridge.”
The Prime Minister also called upon the Sri Lankan president to implement the 13th Amendment to the Sri Lankan constitution to ensure a life of “dignity” and justice for Sri Lankan Tamils.
The provision calls for a devolution of power which would benefit the island nation’s Tamil minority group.
“We hope that the government of Sri Lanka Tamils fulfill the aspirations of the will,” he remarked.
Modi said that India would increase its developmental assistance to the northern and eastern parts of Sri Lanka, where most of the Tamilian population is concentrated.
For his part, Wickremesinghe said that enhancing economic ties with India remained “critical” for Sri Lanka.
India has been one of the biggest bilateral lenders to Sri Lanka in the last two years, having provided assistance worth $4 billion amid the country’s worst financial crisis.
