Tag: Unified Payments Interface

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BRICS Countries Can Use India’s UPI Instant Payment System, Prime Minister Modi Suggests

August 24, 2023

Member states of the BRICS bloc can follow the example of other nations and start using India’s Unified Payments Interface (UPI) system, according to Prime Minister Narendra Modi. The country is a leader in digital transactions, the head of the Indian government said in South Africa where the organization is holding its annual summit. India…
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India and UAE Break Away From US Dollar: Landmark Agreement Enables Trade Settlements in Rupees and Dirhams

July 17, 2023

In a compelling turn of events this Saturday, India and the United Arab Emirates (UAE) inked a landmark agreement facilitating trade transactions to be settled in their native currencies, rupees and dirhams, instead of relying on the U.S. dollar. India’s prime minister Narendra Modi visited the UAE, where the countries announced the linking of the…
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