Karol Bagh | IAS GS Foundation Course | 29 May, 6 PM Call Us
This just in:

State PCS

Daily Updates

Rapid Fire

Launch of RuPay Services in Maldives

  • 28 May 2024
  • 1 min read

Source: IE

Maldives will soon launch India's RuPay service in its country.

  • RuPay is the first-of-its-kind domestic Card payment network of India, with wide acceptance at ATMs, Point of Sale (POS) devices and e-commerce websites across India.
    • RuPay is a product of National Payment Corporation of India (NPCI), the umbrella organization that powers retail payments in the country.
      • NPCI is a "Not for Profit Company" under the Companies Act.
      • The Payment and Settlement Systems Act, 2007, gave authority to the Reserve Bank of India (RBI) and Indian Banks’ Association (IBA) to establish a safe electronic payment and settlement system in India.
      • NPCI International Payments Ltd (NIPL) is the international arm of (NPCI), established in 2018 to export India's digital payment solutions like RuPay and UPI globally.
    • RuPay has launched various card variants catering to the different segments of society.
  • RuPay's transactions are already accepted in Singapore, Bhutan, UAE, Bahrain, and Saudi Arabia.

Read more: UPI Services in Sri Lanka and Mauritius, India Maldives Relations

SMS Alerts
Share Page