India, Sri Lanka discuss early launch of UPI payment system in country

Six months after it was announced by the prime ministers of both countries, India has discussed the early launch of the UPI payment system with Sri Lanka and reiterated its support in the cash-strapped island nation’s debt restructuring process.

In July 2023, Prime Minister Narendra Modi and Sri Lanka President Ranil Wickremesinghe signed an agreement on Unified Payments Interface (UPI) acceptance in Sri Lanka during Wickremesinghe’s two-day visit to India.

The latest discussion took place on Monday during a meeting between the High Commissioner of India Santosh Jha with the Governor of the Central Bank of Sri Lanka (CBSL), Dr Nandalal Weerasinghe.