India Introduces RuPay Card in Maldives, UPI to Follow: PM Modi

During his five-day official visit to India, Prime Minister Narendra Modi announced the launch of the RuPay Card in the Maldives, addressing President Mohamed Muizzu at Hyderabad House. This development is part of the growing financial collaboration between the two nations.

Prime Minister Modi also revealed plans to introduce India's Unified Payments Interface (UPI) in the Maldives, further enhancing the financial connectivity between the countries.

Modi highlighted the recent financial support from the State Bank of India (SBI), which rolled over USD 100 million in treasury bills for the Maldives. He also mentioned the existing currency swap agreement valued at USD 400 million and INR 3,000 crore, underscoring the strength of the economic ties.

Additionally, Modi hinted at the possibility of establishing an Indian Consulate in Addu City and a Maldivian Consulate in Bangalore, aiming to bolster diplomatic relations.

President Muizzu, who was welcomed with a ceremonial reception at Rashtrapati Bhavan, is scheduled to engage in high-level discussions with Prime Minister Modi. Their talks are expected to cover a broad spectrum of topics, focusing on enhancing bilateral trade, financial cooperation, and regional collaboration.

This visit marks President Mohamed Muizzu’s inaugural official trip to India since he took office in November, signaling a commitment to deepening the partnership between the two countries.

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