G-20 Sherpas' meeting: India to fund digital payments infrastructure abroad

"This is about spreading India's soft power and also enabling Indian private sector, which is well versed in these technologies, to get business opportunities abroad," a second senior official said

Arup Roychoudhury Kumarakom
UPI payments, UPI

Photo: Bloomberg

Listen to This Article

Not only is India willing to provide the technical expertise to low- and middle-income nations that are interested in developing or improving their own digital payments systems, but is also keen to finance such efforts, Business Standard has learnt.
“We are looking to help the countries in the ‘global south’ with their own digital public infrastructure. We have built our own infrastructure and are showcasing it throughout G20. We will help them with the funding of such initiatives as well,” a senior government official told this paper on the sidelines of the G20 Sherpas’ Meeting in Kumarakom, Kerala.
Reserve Bank of India Deputy Governor T Rabi Sankar had last month said a number of Commonwealth nations from the Caribbean and South Pacific, and some Latin American countries as well are interested in using Unified Payments Interface (UPI) or a similar technology. However, it was understood then to be just t

Also Read

Budget 2023 to increase capex for infra projects for growth: Experts

UPI transactions touch a record Rs 11.17 trillion in September, shows data

RBI to streamline charges for a safer, more affordable payments system

RBI pauses onboarding of online merchants by Paytm Payments Services

RuPay credit card UPI to succeed if small transactions under 10%: Asbe

Rising sugar prices posing threat, putting pressure on global inflation

Era of low interest, easy credit over, inflation pronounced in India: S&P

Imported drugs for rare diseases to be exempt from customs duty

Why does this ex-deputy guv of RBI want India's biggest firms dismantled?

Indian delegation explores investment opportunities in S Africa, Botswana

First Published: Mar 30 2023 | 7:18 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on are available only to BS Premium subscribers. Already a BS Premium subscriber?LOGIN NOW

Register to