Union Finance and Corporate Affairs Minister Nirmala Sitharaman and Bhutan’s Finance Minister Lyonpo Namgay Tshering jointly launch the BHIM–UPI in Bhutan at a virtual ceremony
Launch fulfils the commitment made by two countries during Prime Minister of India’s State visit to Bhutan in 2019
New Delhi: Union Minister of Finance and Corporate Affairs Nirmala Sitharaman, along with her Bhutanese counterpart, Lyonpo Namgay Tshering, jointly launched BHIM–UPI in Bhutan today afternoon in a virtual ceremony.
Bhutan is the first country to adopt UPI standards for its QR deployment, and the first country in India’s immediate neighbourhood to accept mobile based payments through the BHIM App.
Terming BHIM-UPI as one of the brightest spot, Sitharaman said that the services have started in Bhutan under India’s neighbourhood first policy. She said it was an achievement for digital transactions in India during the time of COVID-19 pandemic when BHIM UPI processed 22 billion transactions worth value Rs 41 lakh crore in 2020-21.
Bhutan’s Finance Minister Tshering, thanked and appreciated the Government of India for the launch of BHIM-UPI services in Bhutan and added that the bond between the two countries has become stronger each passing day.
The launch fulfils the commitment made by the two countries during the Prime Minister of India’s State visit to Bhutan in 2019. Following that visit, India and Bhutan have already enabled inter-operability in acceptance of Rupay cards in each other’s countries in two phases – acceptance of Rupay cards issued in India at Bhutan based terminals in the first phase, and vice versa in the second phase.
With today’s launch of BHIM-UPI in Bhutan, the payment infrastructures of the two countries are seamlessly connected and will benefit a large number of tourists and businessmen from India who travel to Bhutan each year. This will enhance the ease of living and ease of travelling through cashless transactions at the touch of a button.
As a part of the launch, Sitharaman also made a Live transaction using BHIM-UPI to purchase an organic product from a Bhutanese OGOP outlet, which sells fresh farm produce made organically by local communities in Bhutan.
– global bihari bureau
