Finance Ministers Nirmala Sitharaman and Lyonpo Lekey Dorji Strengthen India-Bhutan Ties
On a recent Saturday in New Delhi, India’s Finance Minister Nirmala Sitharaman met with Bhutan’s Finance Minister Lyonpo Lekey Dorji. The meeting was a warm exchange of greetings and gratitude, highlighting the strong relationship between India and Bhutan.
Sitharaman extended her greetings to Bhutan’s King, the Royal Family, and the Bhutanese people. Lyonpo Lekey Dorji expressed his appreciation for India’s support during Bhutan’s 13th Five Year Plan, particularly through the Currency Swap and Standby Credit Facility.
The meeting also focused on the growing financial technology (FinTech) connectivity between the two countries. Sitharaman noted the successful use of India’s BHIM UPI and RuPay cards in Bhutan, emphasizing India’s commitment to enhancing digital financial infrastructure.
This discussion took place alongside the Kautilya Economic Conclave, where the Bhutanese delegation was recognized for their participation, further strengthening the partnership between the neighboring nations.
Doubts Revealed
Nirmala Sitharaman -: Nirmala Sitharaman is the Finance Minister of India. She is responsible for managing the country’s finances, including the budget and economic policies.
Lyonpo Lekey Dorji -: Lyonpo Lekey Dorji is the Finance Minister of Bhutan. He works on managing Bhutan’s financial matters and economic policies.
India-Bhutan Ties -: India-Bhutan ties refer to the friendly and cooperative relationship between India and Bhutan. These ties include economic, cultural, and political cooperation.
13th Five Year Plan -: The 13th Five Year Plan is a development plan used by Bhutan to guide its economic and social growth over five years. It includes goals and projects to improve the country.
Currency Swap -: Currency Swap is an agreement between two countries to exchange their currencies. It helps in stabilizing the currency and supporting financial needs.
Standby Credit Facility -: Standby Credit Facility is a type of financial support where one country provides a loan to another. It helps the borrowing country in times of financial need.
BHIM UPI -: BHIM UPI is a digital payment system in India that allows people to transfer money using their mobile phones. It makes transactions easy and quick.
RuPay cards -: RuPay cards are Indian debit and credit cards used for electronic payments. They are similar to Visa or MasterCard but are made in India.
