Washington: Union Finance Minister  Nirmala Sitharaman said that India is holding discussions with different countries to make RuPay acceptable in their nations.

The Finance Minister, who is on a visit to the United States for the annual meetings of the International Monetary Fund and the World Bank, said that UAE  and Singapore have shown interest to accept the RuPay payment system in their countries.

The finance minister also said that India is holding talks with different countries to make RuPay acceptable in their nations.

"We are talking to various countries. Now that Singapore and the UAE have all taken action to admit Rupay in their nations, "Sitharaman made this statement while having a fireside chat with renowned economist Eshwar Prasad at the Brookings Institute think tank.

Not only that, but NCPI (the National Payments Corporation of India), the BHIM app, and UPI (the Unified Payments Interface) are all currently being developed in such a way that their systems in each country, regardless of how reliable they may be, can communicate with our system. This interoperability alone will strengthen Indians' expertise in those nations, she added.

In the midst of the current war in Ukraine, Sitharaman urged developed nations to accept accountability for the global fallout brought on by their political choices.

In her written remarks, the minister hit out the industrialized nations for placing penalties on countries that were only acting in accordance with their moral and democratic commitments to their citizens.

"To say the obvious, international cooperation is more important than ever. Instead of imposing sanctions on countries that are merely carrying out their moral and democratic obligations for their people, advanced nations must in the near future assume responsibility for the global fallout of their political and economic policy decisions and put in place safety nets "added the minister.

These remarks come at a time when India's economy is still expanding at the quickest rate among developed nations. The IMF estimated India's GDP growth for 2022 to be 7.4% in its July 2022 report.

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