India and Sri Lanka are working together on the fintech sector connectivity by linking India’s Unified Payments Interface (UPI) and Lanka Pay.
The plan to link UPI and Lanka Pay has been finalised for retail digital payments and its adoption will be increasing at a rapid pace, Finance Ministry sources said.
Adopting UPI as a payment mode means people in both countries will be able to transfer funds in real-time by scanning the QR code or simply by entering mobile numbers linked to the bank account.
This connectivity will allow Indians travelling to Sri Lanka to carry out financial transactions using the UPI system.
Travellers to India too, benefit from UPI-- taking into consideration the popularity of the system, the RBI proposed to allow travellers to India to use UPI for merchant payments while in the country.
Previously, Indian Prime Minister Narendra Modi and Sri Lanka President Ranil Wickremesinghe in India signed an agreement on UPI acceptance in Sri Lanka during Sri Lanka President Wickremesinghe's two-day visit to India.
The number of Buddhist monks who were killed following the accident at the Na Uyana Theravada Buddhist Monastery (Na Uyana Aranya Senansenaya) in Pansiyagama, Melsiripura, Kurunegala currently stands at nine , with four injured, Minister of Buddhasasana, Religious and Cultural Affairs Prof. Hiniduma Sunil Senevi told Parliament this morning. He revealed that two of the injured Buddhist monks are being treated at the Intensive Care Unit (ICU
Several shops were damaged in a major fire that broke out in a shop on the third floor of a building at First Cross Street in Pettah, Colombo, today evening.
President Anura Kumara Dissanayake, addressing the 80th session of the United Nations General Assembly, said that both inequality and poverty ought to be regarded as a worldwide catastrophe that requires urgent attention.
The opposition has renewed its demand for a long delayed forensic audit into the controversial e-visa deal, following the sentencing of former Controller General of Immigration, Harsha Ilukpitiya, for contempt of court.
Read this week’s Sunday Times for your interesting articles
Leave Comments