PM Narendra Modi and his Singapore PM Lee Hsien Loong on February 21 virtually witnessed the launch of online payment system UPI-PayNow, a linkage between the two countries. The payment system was launched by RBI Governor Shaktikanta Das and Monetary Authority of Singapore MD Ravi Menon. The linkage of the payment systems would enable residents of both countries in faster and cost-efficient transfer of cross-border remittances.
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