New Delhi: Nepal on Saturday became the fourth foreign country to operate a RuPay card with Prime Minister Narendra Modi and his Nepalese counterpart Sher Bahadur Deuba jointly launching the Indian electronic payment system in the Himalayan nation.
The three other countries with RuPay cards are Bhutan, Singapore and the United Arab Emirates.
The card was launched by the two leaders after holding talks on a wide range of issues including cooperation in the areas of trade, investment and energy.
Deuba arrived in New Delhi on Friday on his first foreign visit after becoming prime minister for the fifth time in July 2021.
“The introduction of RuPay card in Nepal will add a new chapter to our financial connectivity,” Modi said in his media statement after the interaction.
The Ministry of External Affairs said that the launch of the card in Nepal will open new avenues for cooperation in financial connectivity, and is expected to facilitate bilateral tourist flows as well as further strengthen people-to-people ties.
The RuPay card scheme was launched in 2012 as part of the Reserve Bank of India’s vision of a domestic, open and multilateral system of payment.
People familiar with the project said Nepal SBI Bank (NSBL), a subsidiary of SBI and Nepal’s largest international bank, worked on the initiative for over a year with the support of the Central Bank of Nepal.
He said that the launch of the card in Nepal will create a new avenue for financial convenience and empowerment with the use of technology and innovation.
He said that this will not only enable ease of payments for RuPay car holders but will also enhance Nepal’s payment ecosystem capabilities.
Following the Modi-Deuba talks, Nepal and India signed an agreement for renewal of a Memorandum of Understanding between Indian Oil Corporation Limited (IOCL) and Nepal Oil Corporation Limited (NOC) for the supply of petroleum products for a period of five years . The people cited above said.
The two sides had signed an agreement on March 27, 2017, which expired on March 31.
The renewed agreement will be valid for a period of five years.
The agreement is in the form of an umbrella agreement to enable IOCL to supply petroleum products to NOCs through the Motihari-Amlekhgunj pipeline commissioned in July 2019.
Another agreement was signed between IOCL and NOC for sharing of technical expertise.
The objective of the agreement is to assist NOCs in acquiring technical knowledge and skills in petroleum products and in the operation and maintenance of facilities required for this purpose. Read also: India Inc’s performance to improve in H2 of 2021-22: CRISIL
The people said that IOCL will provide training and knowledge to NOC personnel in the areas of quality control, engineering, pipelines, IT, terminal/depot operations, infrastructure development and security. Read also: Apple iPhone 13 on sale at online store with a discount of Rs 28,000; check offer price
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function disqusToggle() {
var id = $(this).attr("id");
$("#disqus_thread1" + id).toggle();
};*/
//$(".main-rhs2450222").theiaStickySidebar();
var prev_content_height = $(content_selector).height();
//$(function() {
var layout = $(content_selector);
var st = 0;
///});
}
}
});
/*}
};*/
})(jQuery);