PM’s Visit To Abu Dhabi: India’s UPI RuPay To Go Universal Across UAE
The Indian UPI RuPay card service has been introduced in Abu Dhabi. The Prime Minister (PM) of India, Narendra Modi and the UAE President, Sheikh Mohammed Bin Zayed Al Nahyan, together introduced the card in Abu Dhabi today. As part of the introduction of the card, both the leaders witnessed a transaction made through the UAE’s domestic JAYWAN card, which is based on India’s digital RuPay credit and debit card stack. Last July, during the visit of the PM to Abu Dhabi, the two countries had undertaken a memorandum of understanding (MoU) on linking the payment and messaging systems to boost fintech and facilitate the smooth transactions between both the countries.
This significant step would make the RuPay universally accepted throughout the UAE. On February 12, India had launched its UPI transaction system in two countries, Sri Lanka and Mauritius. The Prime Minister, on February 14, would also be inaugurating the first hindu stone temple, the Bochasanwasi Shri Akshar Purushottam Swaminarayan Sanstha (BAPS) Mandir in Abu Dhabi.
On his two-day visit this time, he was received by President Nahyan and was given a guard of honour. Later, a ceremonial reception was given at the Presidential Palace, Qasr Al Watan. The PM thanked the warm welcome he received and said that, every time he has visited the country, he always felt that he has come to meet his family. He mentioned that, we have met 5 times in the last 7 months, it”s very rare and reflects our close relationship.”
Along with these, on February 14, the PM would inaugurate the Bochasanwasi Shri Akshar Purushottam Swaminarayan Sanstha Mandir (BAPS), which would be the first hindu stone temple in Abu Dhabi. On the inauguration, the media release of the External Affairs Ministry said, “both sides noted that the BAPS Temple is a celebration of UAE-India friendship, deep-rooted cultural bonds and an embodiment of the UAE’s global commitment to harmony, tolerance and peaceful coexistence.”
Several agreements have been undertaken, as the meeting between the leaders witnessed bilateral investment treaty, MoU on cooperation in the field of electrical interconnection and trade, Intergovernmental Framework Agreement between India and UAE on the India- Middle East- Europe Economic Corridor, MoU on cooperation in Digital Infrastructure Projects, cooperation protocol between the National Archives of the two countries, MoU for cooperation in the field of heritage and museums, Agreement on interlinking of the instant payment platforms – UPI (India) and AANI (UAE), and agreement on inter-linking domestic debit/credit cards – RuPay (India) with JAYWAN (UAE).
