President Droupadi Murmu Congratulates Maldives on 56th Republic Day
On the 56th Republic Day of the Maldives, President of India, Droupadi Murmu, extended her warm greetings to Maldivian President Mohamed Muizzu, his government, and the people of the Maldives. This gesture was shared by the High Commission of India, highlighting the friendly relations between the two nations.
Strengthening India-Maldives Relations
In October, President Muizzu visited India, marking a significant step in strengthening the friendship and partnership between the two countries. Following this visit, the Maldives decided to introduce India’s Unified Payment Interface (UPI) into its financial system. This initiative, supported by Muizzu’s cabinet, aims to expand digital infrastructure and improve financial transactions in the Maldives.
Implementation of UPI
The Maldivian government will establish a consortium led by TradeNet Maldives Corporation Limited to oversee the UPI rollout. This will involve collaboration with banks, telecom companies, and other stakeholders. An interagency team, led by the Ministry of Economic Development and Trade, will coordinate the implementation efforts.
Launch of RuPay Cards
During Muizzu’s visit, India also launched RuPay cards in the Maldives to facilitate payments for Indian tourists and Maldivians visiting India. This initiative is part of broader efforts to enhance digital cooperation between the two countries.
India-Maldives Partnership
India and the Maldives share a deep-rooted relationship based on cultural, linguistic, and economic ties. Under India’s “Neighbourhood First” policy, the Maldives plays a crucial role in the Indian Ocean Region, with both nations committed to regional stability and security.
Doubts Revealed
Droupadi Murmu -: Droupadi Murmu is the President of India. She is the head of the country and represents India in important matters.
Maldives -: The Maldives is a small island country located in the Indian Ocean, known for its beautiful beaches and clear blue waters.
Republic Day -: Republic Day is a special day when a country celebrates the establishment of its republic, which means it became a country with its own government.
Unified Payment Interface (UPI) -: UPI is a system in India that allows people to transfer money easily using their mobile phones. It makes paying for things quick and simple.
RuPay cards -: RuPay is an Indian card payment system, similar to Visa or MasterCard, that allows people to make payments using a card.
Financial inclusion -: Financial inclusion means making sure everyone has access to useful and affordable financial services, like banking and payments.