Indigenous card enters Gulf markets
RuPay card, to be launched soon in Bahrain, will make it hassle-free money transfer at cheaper costs for Indian expatriates, Prime Minister Narendra Modi said during a visit to the Gulf country.
The RuPay scheme was launched in 2012 to fulfil the Reserve Bank of India’s vision to have a domestic, open and multilateral system of payments.
“I am glad that you will be able to transact in Bahrain soon with RuPay card,” said Modi on 24 August when he met Indians in Bahrain.
An MoU was on the use of RuPay card in Bahrain.
“Our intention is to provide you the facility to send money to your home in India through RuPay Card. Now you will be able to say that “Bahrain – Pay with RuPay,” he said.
Launched in 2012, RuPay facilitates electronic payment at all Indian banks and financial institutions.
Modi has also launched RuPay in Abu Dhabi on 24 August 2019, making the UAE the first country in the Middle East to use the card.
RuPay is already in use in Singapore and Bhutan. fiinews.com
