Home » Business » Smt Nirmala Sitharaman and Mr Lyonpo Namgay Tshering jointly launch BHIM–UPI in Bhutan

Smt Nirmala Sitharaman and Mr Lyonpo Namgay Tshering jointly launch BHIM–UPI in Bhutan

Newdelhi:13/7/21:Union Minister of Finance & Corporate Affairs Smt. Nirmala Sitharaman, along with her counterpart, the Hon’ble Finance Minister of Bhutan, Mr Lyonpo Namgay Tshering, jointly launched BHIM–UPI in Bhutan today afternoon in a virtual ceremony. The function was also attended by the Minister of State (Finance) Dr. Bhagwat Kishanrao Karad, the Governor of the Royal Monetary Authority of Bhutan Mr Dasho Penjore, Secretary, Department of Financial Services, Shri Debasish Panda, the Ambassador of India to Bhutan, Ms Ruchira Kamboj, the Ambassador of Bhutan to India General V. Namgyel, and the MD & CEO of NPCI Shri Dilip Asbe.

While speaking on the occasion, Smt. Sitharaman said that the services have started in Bhutan under India’s neighbourhood first policy and India is proud of our achievement and feel pleasure in sharing it with our valued neighbour. The Finance Minister said that BHIM UPI is one of the brightest spot and an achievement for digital transactions in India during the time of COVID-19 pandemic with more than 100 million UPI QRs have been created in last 5 years and BHIM UPI in 2020-21 has processed 22 billion transactions worth value Rs 41 lakh crore.

The Finance Minister of Bhutan, Mr Lyonpo Namgay 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.

 This launch fulfils the commitment made by the two countries during the Hon’ble 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, Smt. Nirmala 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.

Bhutan is the first country to adopt UPI standards for its QR deployment, and the first country in our immediate neighbourhood to accept mobile-based payments through the BHIM App.

 

About Editor in chief

Ashok Palit has completed his graduation from Upendranath College Soro, Balasore and post graduation from Utkal University in Odia Language and literture.. He has also carved out a niche for himself as a scribe of eminence after joining the profession in 1988. He is also an independent media production professional. He brings loads of experience to Advanced Media, Ashok Palit as a cineaste has been active in film criticism for over three decades. As a film society activist, he soared to eminence for his profound commitment to the art film appreciation and aesthetics of cinema. His mode of discourse is often erudite but always lucid and comprehensible marked by a perfect acumen so rare in the field. A film aesthete with an immense fond of critical sensibilities, he wrote about growth and development of odia cinema in New Indian Express, The Times of India, The Hindustan Times, The Asian Age and Screen. He has been working as an Editor for Cine Samaya from 2002-2004.. He had made solid contribution on cinema in many odia Dailies and weekly such as Samaj, Prajatantra, Dharatri, Samaya, Satabadi, and weekly Samaya.

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