Prime Minister of Bhutan Lotay Tshering is on a visit to India and during this visit, it was announced that the Bhutan government has taken the decision to launch the RuPay Cards.
Ex-President of India, Pranab Mukherjee had dedicated RuPay cards, India’s own card payment network to the nation on May 8, 2014, at a function at Rashtrapati Bhavan.
RuPay cards have been developed by National Payments Corporation of India (NPCI) – a ‘not-for-profit’ Company envisioned by Reserve Bank of India and created by the banking industry.
The RuPay cards symbolize the capabilities of the Indian banking industry in building a card payment network so that dependency on international card scheme is minimized and Bhutan’s entry in this sphere is a welcome development!
India has already assured of its support to Bhutan in several areas and in a statement, PM Modi said that in Bhutan’s 12th Five-year plan India will provide assistance of 4500 crore rupees. India’s role in the cooperation in the Hydro projects of Bhutan was also discussed and PM Modi expressed happiness at the speed of work on the Mangdecchu project. PM Modi said that an agreement on the tariff of this project has also been reached. India and Bhutan are also starting cooperation in space science and the ISRO is already building a ground station in Bhutan to avail the benefits of the South Asian Satellite.
This will also help Bhutan in tasks such as weather information, tele-medicine and disaster relief in the far-flung areas.
PM Modi also highlighted the close bond between the highest office of India and Bhutan. He said in his speech that his own first visit to a foreign country was to Bhutan and Bhutanese PM Lotay Tshering also chose India as his first foreign visit.