Maldives implemented India s UPI system in the country

maldives President Mohammad Muizzu has decided to implement India’s Unified Payment Interface (UPI) on sunday (October 20) to boost the economy. This decision has been taken after the recommendation of the cabinet. With its help, an attempt will be made to advance the wallet PLATFORM’ target=”_blank” title=”digital-Latest Updates, Photos, Videos are a click away, CLICK NOW”>digital structure to improve the economic situation. The President’s office said in a statement that the cabinet thoroughly reviewed a proposal from the minister of Economic Development and Trade before reaching this decision.

To smoothly launch and facilitate UPI across the country, the Muizzu government will set up a consortium, which will include banks, telecom companies and fintech companies operating in the country. For this, Tradenet maldives Corporation Limited has been appointed as the lead agency for the consortium.

Agreement on the visit of Foreign minister S Jaishankar

India’s Foreign minister S jaishankar visited maldives in the month of August. Then they signed an agreement related to Unified Payment Interface, under which it was decided that in the coming time, the people of maldives will also be able to transact money through UPI like India.

Promoting wallet PLATFORM’ target=”_blank” title=”digital-Latest Updates, Photos, Videos are a click away, CLICK NOW”>digital public infrastructure

india is also promoting the wallet PLATFORM’ target=”_blank” title=”digital-Latest Updates, Photos, Videos are a click away, CLICK NOW”>digital public infrastructure developed in the country, which includes UPI, Aadhaar, Modular Open Source Identity Platform (MOSIP) and DigiLocker’s wallet PLATFORM’ target=”_blank” title=”digital-Latest Updates, Photos, Videos are a click away, CLICK NOW”>digital offerings around the world. According to the Ministry of External Affairs (MED), India’s efforts for wallet PLATFORM’ target=”_blank” title=”digital-Latest Updates, Photos, Videos are a click away, CLICK NOW”>digital Public Infrastructure (DPI) are aimed at advancing wallet PLATFORM’ target=”_blank” title=”digital-Latest Updates, Photos, Videos are a click away, CLICK NOW”>digital transformation in other countries of the world and increasing cooperation in wallet PLATFORM’ target=”_blank” title=”digital-Latest Updates, Photos, Videos are a click away, CLICK NOW”>digital initiatives of ecosystem-centers like india Stack. The announcement related to this came less than a month after Muizu met prime minister Narendra Modi during his visit to India.

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