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PM Modi launches Rupay card Phase-2 in Bhutan

Prime Minister Narendra Modi on Friday launched the second phase of domestic card network RuPay's expansion in Bhutan during a virtual conference held with Bhutanese Prime Minister Lotay Tshering. In August 2019, during his state-visit to Bhutan, PM Modi announced that visitors from India could access ATMs and Point of Sale (PoS) terminals across Bhutan through RuPay cards. Under the Phase-2 roll-out, Bhutanese card holders can access the RuPay network in India, a government press release says. "I’m happy to know that there have been 11,000 successful Rupay transactions in Bhutan already. Had Covid not happened, this number would have been much higher. We are launching the Phase II of the RuPay Card scheme,” PM Modi said during the conference. "This would make tourism, shopping and other transactions easier for Bhutanese tourists in India,” he said, adding that this initiative will help grow digital transactions in the neighbouring country. The Bhutan National Bank has launched RuPay card issuances in the country, whereby Bhutanese bank customers can use the cards at Indian ATMs for transactions up to ₹1 lakh and up to ₹20 lakh at PoS terminals. RuPay is a card network developed by the National Payments Corporation of India (NPCI) in 2021 to take on the might of global giants Visa and Mastercard. As of January 2020, a total of 600 million RuPay cards have been issued by 1,100 banks, according to data on the RuPay website. The card network has gained prominence among Indian bank customers on the back of…

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