Prime Minister Narendra Modi lauded the formal launch of the Unified Funds Interface (UPI) on the iconic Eiffel Tower in Paris, saying it “marks a major step in direction of making UPI world.”
“Nice to see this–it marks a major step in direction of taking UPI world. This can be a great instance of encouraging digital funds and fostering stronger ties,” mentioned PM Modi in a put up on X.
Nice to see this- it marks a major step in direction of taking UPI world. This can be a great instance of encouraging digital funds and fostering stronger ties. https://t.co/jf1sTf41c5
— Narendra Modi (@narendramodi) February 2, 2024
The Unified Funds Interface (UPI) has been formally launched on the Eiffel Tower in Paris, the Indian Embassy in France mentioned on Friday and termed it a part of Prime Minister Narendra Modi’s “imaginative and prescient of taking UPI world.”
The UPI was formally launched on the Republic Day reception held in France.
In a put up on X, the Indian Embassy in France acknowledged, “UPI formally launched on the iconic Eiffel Tower on the enormous Republic Day Reception. Implementing PM @narendramodi’s announcement & the imaginative and prescient of taking UPI world.”
The UPI is India’s mobile-based fee system and permits folks to make round the clock funds via a digital fee deal with created by the client. UPI is a system that powers a number of financial institution accounts right into a single cellular software (of any collaborating financial institution), merging a number of banking options, seamless fund routing and service provider funds into one hood.
In 2023, India and France dedicated to nurturing a thriving ecosystem and constructing collaborations that empower their residents and guarantee their full participation within the digital century, in line with the India-France joint assertion. NPCI Worldwide Funds Restricted (NIPL) and France’s Lyra Gather executed an settlement to implement the Unified Fee Interface (UPI) in France and Europe.
Throughout his go to to France in July final yr, Prime Minister Narendra Modi introduced that India and France have agreed to make use of the UPI fee mechanism and it’ll start from the enduring Eiffel Tower. PM Modi mentioned that Indian vacationers in France will now have the ability to make funds in rupees.
Whereas addressing the Indian group at La Seine Musicale in Paris on July 14, PM Modi mentioned, “Be it India’s UPI or different digital platforms, they’ve introduced an enormous social transformation within the nation and I’m completely satisfied that India and France are additionally working collectively in course. India and France have agreed to make use of UPI in France. I’ll go away after the settlement. Nevertheless, it’s your job to maneuver ahead. Pals, within the coming days, its starting can be constituted of Eiffel Tower, which implies that Indian vacationers will now have the ability to make funds in Rupees, via UPI, at Eiffel Tower.”
Not too long ago, French President Emmanuel Macron visited India to attend the Republic Day Parade as Chief Visitor. Throughout their go to, Macron and Prime Minister Narendra Modi visited a tea stall and interacted with one another over a cup of tea in Jaipur. Macron used UPI to make a fee there. Earlier, PM Modi defined the UPI digital funds system to Macron as the 2 leaders visited an area store throughout their go to to Hawa Mahal in Jaipur.
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