India and Singapore launch joint digital payment mechanism

Daily Current Affairs / India and Singapore launch joint digital payment mechanism

Change Language English Hindi

Category : International Published on: February 23 2023

Share on facebook

India and Singapore launched a joint digital payment system.
This system will facilitate citizens of both the countries to do cross border transactions at a faster and smoother pace.
Unified Payments Interface (UPI) of India and ‘PayNow’ of Singapore have made a tie-up to facilitate these transactions.
The facility was jointly launched by Reserve Bank of India Governor Shaktikanta Das and Managing Director of the Monetary Authority of Singapore Ravi Menon.
This system will help in increasing the trade between the two countries.
This real-time payment system will help the Indian diaspora in Singapore, especially migrant workers and students.

ONGC will invest ₹4,600 crore in Andhra Pradesh’s KG Basin for drilling, offshore platforms, pipeline, and gas processing.
Read More....
India’s defence production reached a record ₹1.51 lakh crore in FY 2024-25, up 18% from last year.
Read More....
China and Hong Kong won the Asia Rugby U-20 Sevens titles, while India’s women claimed bronze in Bihar.
Read More....
DPIIT signed an MoU with Zepto to support manufacturing startups under the Zepto Nova Innovation Challenge.
Read More....
Indian Navy will commission stealth frigates INS Udaygiri and INS Himgiri together for the first time on 26 August 2025.
Read More....
Lok Sabha passed the revised Income Tax Bill 2025, expanding officials’ powers for search operations.
Read More....
Kerala’s KSFE became the first miscellaneous NBFC in India to cross ₹1 lakh crore turnover.
Read More....
WHO confirmed Kenya has eliminated sleeping sickness as a public health problem.
Read More....
Aadhaar Face Authentication transactions doubled from 100 crore to 200 crore in just six months.
Read More....
Tata’s Nelco and France’s Eutelsat will provide OneWeb satellite internet services in India.
Read More....

India and Singapore launch joint digital payment mechanism