In another move strengthening the Indian currency, the Governments of India and France have agreed upon payments in the French republic by the Indian tourists to be made in rupees that to through UPI.
Rupee is one of the best performing Asian curriences of the year 2023. Its acceptance as an exchange value by France gives another boost to the Indian currency. So, far UAE, Nepal and Bhutan have adopted the UPI system.
The UPI trial shall begin with the Eiffel Tower which is visited by 3 lakh Indian tourists annually. This shall be done in collaboration with France's secure online payment mechanism Lyra.The agreement one out of many to be signed between the French and the Indian governments, on the Prime Minister's two day visit to France.
UPI began in 2016 in India after demonetisation. It was formed by NPCI to ensure a cash free economy. With more and more countries accepting rupees through UPI, the tourists shall soon witness cash free travel.
Report by Mansi Sharma
Graphics by Shruti Goyal
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