India in talks with different countries to make Rupay acceptable in their nations: FM Sitharaman

India is talking to different countries to make Rupay acceptable in their nations, Union Finance Minister Nirmala Sitharaman said on Tuesday.

“Not just that, the UPI (Unified Payments Interface), the BHIM app, and NCPI (the National Payments Corporation of India) are all now being worked in such a way that their systems in their respective country, however, robust or otherwise can talk to our system and the inter-operability itself will give strength for Indians expertise in those countries,” the FM said.

“We are working together with several countries,” Ms. Sitharaman said in response to a question from an Indian student at the University of Maryland, who wanted to have the UPI in the United States as well.

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Ms. Sitharaman made the remarks at the prestigious Brookings Institute think-tank during a fireside chat with eminent economist Eshwar Prasad.

“I'm a student at the University of Maryland here. I am really proud of our UPI system in India. I just wanted to ask, what do you think are the future plans for the UPI system and how can we share it with the world? Specifically in the U.S., that's what I miss the most about India not having a UPI system in the U.S.,” the Indian student asked.

 “We are talking to different countries. Singapore and UAE have all come forward now to make Rupay acceptable in their countries,” Ms. Sitharaman said.