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MoU signed between Central Bank of Oman and National Payments Corporation of India for cooperation in digital payment systems
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“Singapore and UAE have all come forward now to make Rupay acceptable in their countries.”
— Nirmala Sitharaman, India’s Finance Minister
Close on the heels of signing of an agreement between India and Oman for the use of India’s Unified Payments Interface (UPI) platform and RuPay cards, India’s Finance Minister Nirmala Sitharaman hinted Rupay’s expansion in many other countries.
During her US visit FM Sitharaman said, “India is in talks with different countries to make Rupay acceptable in their nations.”
News agency PTI reported the Finance Minister’s interaction with students in Washington where she said, “We are talking to different countries. Singapore and UAE have all come forward now to make Rupay acceptable in their countries,” she said.
“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,” said the Finance Minister.
In response to an Indian student’s question at the University of Maryland she said, “We are working together with several countries.”
“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”
She commented on the student’s question at the prestigious Brookings Institute think-tank during a talk with eminent economist Eshwar Prasad.
In Oman a memorandum of understanding (MoU) was signed between Central Bank of Oman (CBO) and National Payments Corporation of India (NPCI) for cooperation in digital payment systems.
The signatories of the MoU were Tahir bin Salim al Amri, CBO’s Executive President and Ritesh Shukla, CEO of International Payments Limited, a subsidiary of NPCI.
The MoU was signed in presence of a high-level Indian delegation headed by V Muraleedharan, India’s Minister of State for External Affairs and Amit Narang, Indian ambassador to Oman, officials from Indian government and CBO.
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