PM Modi's Singapore visit to put India's RuPay card on global stage

For India, an acceptance of RuPay card by Singapore is a major stepping stone to the wider acceptance of the Rupee abroad

One of the high-profile announcements during Prime Minister Narendra Modi’s Singapore visit could be the launch of mutually acceptable digital wallets between Indian and Singaporean citizens. 

The transactions would be hosted by Indian government’s National Payments Corporation of India (NPCI) — an umbrella organisation for all retail payment systems in India — with its RuPay cards and Singapore’s equivalent system, Network for Electronic Transfers or Nets. Just as NPCI’s mandate is to promote digital payments in India, Nets has the mandate of the Monetary Authority of Singapore to become the preferred digital payments system.

It has significance. Once the handshake