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Nepal Becomes The 4th Foreign Country To Use RuPay Card

Business

Apr 03, 2022

Nepal Becomes The 4th Foreign Country To Use RuPay Card

Kathmnadu, Nepal, April 4, 2022: Nepal has become fourth foreign country following Bhutan, Singapore and the UAE to use Indian RuPay Card.

Following the agreement to launch the Indian RuPay Card, Nepal SBI Bank Limited (NSBL), a subsidiary of SBI bank of India, is going to launch the Indian RuPay Card in the first phase in Nepal in coordination of the Nepal Rastra Bank (NRB) the central bank of Nepal.

Prime Minister Sher Bahadur Deuba and his Indian counterpart Narendra Modi had jointly launched the Indian electronic payment system in Nepal during former’s official visit to India on Saturday. Introduction of RuPay card in Nepal is claimed to add a new chapter in the field of financial connectivity between Nepal and India.

The Indian RuPay card was introduced in 2012 as part of the Reserve Bank of India’s vision to have a domestic, open, and multilateral system of payments.