UPI-PayNow: Prime Minister Narendra Modi (Narendra Modi) and Singapore’s Prime Minister Lee Hsien Loong today signed a huge deal in the field of digital payments. Cross-border payment connectivity was started between the two countries by connecting India’s UPI i.e. Unified Payment Interface and Singapore’s PayNow. This morning the Prime Ministers of both the countries have started it by participating in a program through video conferencing.
These officials of both countries started the agreement of digital payment
This facility has been launched by RBI Governor Shaktikanta Das from India and Ravi Menon, Managing Director of Monetary Authority of Singapore from Singapore. Real-time payment system linkage has been launched between India and Singapore. Through this, money can be transferred very easily and quickly under cross-border connectivity between India and Singapore.
What did Prime Minister Narendra Modi say
Prime Minister Narendra Modi said on the occasion of this launch that this occasion is a very congratulatory occasion for both the countries. I congratulate the people of India and Singapore that this agreement will further strengthen the ties between the two countries. He said that the ease with which Indians living in Singapore will be able to transfer money to India through UPI is a historic achievement in the field of digital payments. Citizens of both the countries will be able to send and receive money to the people of each other’s countries on their mobiles. Students, professionals and ordinary citizens will be especially benefited by this.
Digital transactions between the two countries became easier
From today, using UPI and PayNow, Indians living in Singapore will be able to transfer money to India through UPI.
Indian students who are studying in Singapore, their parents will be able to send money through UPI by making digital payments very easily.
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