The Royal Monetary Authority (RMA) of Bhutan and NPCI International Payments Ltd (NIPL) have formed a collaboration to enable and implement BHIM UPI QR-based payments in Bhutan. India’s e-payment gateway for cashless transactions, the BHIM app, will be launched in Bhutan today.
The service will be formally launched by Hon’ble Finance Minister of India Smt. Nirmala Sitharaman today at a virtual ceremony in presence of Hon’ble Finance Minister of Bhutan, Lyonpo Namgay Tshering, Governor of Royal Monetary Authority of Bhutan, Dasho Penjore, Secretary (Department of Financial Services) Shri Debasish Panda, Ambassador of Bhutan to India General V Namgyel, Ambassador of India to Bhutan, Ruchira Kamboj, MD & CEO of NPCI, Dilip Asbe and other distinguished guests.
The BHIM app will assist Indian companies, vacationers within the nation with cashless transactions and can give a flip to Bhutanese companies as effectively. BHIM is the 2nd Indian coast gateway to be launched within the nation after RuPay.
2019 noticed the RuPay card being launched in Bhutan through the go to of Indian PM Narendra Modi. Phase 2 of RuPay was launched in the last 12 months. RuPay is an Indian cost gateway like a visa or Mastercard and is now out there in lots of nations within the area, like Singapore, Maldives, UAE, Bahrain, and Saudi Arabia.
India and Bhutan share a really shut relationship, outlined as a “special relationship”. Amid the covid disaster, India dispatched out medicines and vaccines to the nation. Bhutan additionally reached out to India by supplying 40 metric tonnes of liquid oxygen to Assam.