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 keeping with the India-France joint assertion.
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 as a part of Prime Minister Narendra Modi’s “imaginative and prescient of taking UPI international.” The UPI was formally launched on the Republic Day reception held in France.
In a publish on X, the Indian Embassy in France acknowledged, “UPI formally launched on the iconic Eiffel Tower on the large Republic Day Reception. Implementing PM @narendramodi’s announcement & the imaginative and prescient of taking UPI international.”
UPI formally launched on the iconic Eiffel Tower on the large Republic Day Reception.
Implementing PM @narendramodi’s announcement & the imaginative and prescient of taking UPI international. pic.twitter.com/abl7IPJ0To
— India in France (@IndiaembFrance) February 2, 2024
The UPI is India’s mobile-based cost system and permits folks to make round the clock funds via a digital cost deal with created by the shopper. UPI is a system that powers a number of financial institution accounts right into a single cellular software (of any taking part 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 keeping 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 12 months, Prime Minister Narendra Modi introduced that India and France have agreed to make use of the UPI cost mechanism and it’ll start from the enduring Eiffel Tower. PM Modi mentioned that Indian vacationers in France will now be capable of 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 joyful that India and France are additionally working collectively in path. India and France have agreed to make use of UPI in France. I’ll depart after the settlement. Nevertheless, it’s your job to maneuver ahead. Buddies, within the coming days its starting will likely be made out of Eiffel Tower which signifies that Indian vacationers will now be capable of make funds in Rupees, via UPI, at Eiffel Tower.”
Just lately, French President Emmanuel Macron visited India to attend the Republic Day Parade as as Chief Visitor. Throughout his 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 cost 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.
