Prime Minister Narendra Modi launched three Indian digital payment systems – RuPay, BHIM app and UPI by SBI at the ‘Business, Innovation and Community Event’ in Singapore. With the launch, India’s RuPay digital payments system was linked up with Singapore’s 33-year old Network for Electronic Transfers (NETS).
The move will enable RuPay users to make payments at all of NETS acceptance points across Singapore. Whereas, holders of Singapore NETS will be able to make online purchase on any National Payment Corporation of India (NPCI) e-commerce merchant website in India, using 2.8 million RuPay point of sale terminals in India.
Source- DD News
Static/Current Takeaways Important for Bank of India Exam 2018-
- Singapore Currency- Singapore Dollar, President- Halimah Yacob.