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Unified Payments Interface (UPI) has launched (21st Feb 2023) cross-border connectivity with which country?
A)
USA
B)
Singapore
C)
Qatar
D)
Thailand

Correct Answer :   Singapore


Prime Minister Narendra Modi and Prime Minister of Singapore Lee Hsien Loong inaugurated the virtual launch of cross-border connectivity between the Unified Payments Interface (UPI) and PayNow in Singapore on February 21, 2023.

* The facility was jointly launched by Reserve Bank of India Governor Shaktikanta Das and Managing Director of the Monetary Authority of Singapore Ravi Menon on 21st Feb 2023.

* Terming this launch a gift for the residents of both the countries, Prime Minister Narendra Modi said, this will add a new chapter in fintech connectivity. He said, now people can transfer money with their mobile phones in a cost effective, swift and faster manner.

* Highlighting India's growth in the digital and fintech space, the Prime Minister said, Digital India has facilitated Ease of Living and Ease of Doing Business in the country. He said, this has also helped in improving governance and public service delivery mechanisms.

* He said, money was transferred directly in the bank accounts of the citizens during the Covid pandemic. He said, India has become a leading country in the digital payment sector now and UPI has emerged as the favourite payment option in the country. He said, over 7 thousand 400 crore UPI transactions worth 126 lakh crore rupees were made during the past year (2022)...

Source : AIR

Published On : February 22, 2023
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