Prime Minister of India Narendra Modi has launched the RuPay card, making the UAE the first country in the Middle East to initiate the Indian indigenous system of electronic payment. RuPay card scheme was launched in 2012 to fulfill the Reserve Bank of India’s vision to have a domestic, open and multilateral system of payments.
RuPay facilitates electronic payment at all Indian banks and financial institutions. India has already launched the RuPay card in Singapore and Bhutan.
Static/Current Takeaways for IBPS RRB PO/Clerk Mains:
- Currency of UAE: Dirham, Capital: Abu Dhabi
- RuPay card scheme was conceived and launched by NPCI
Source- The Hindu Business Line