India's Finance and Corporate Affairs Minister Nirmala Sitharaman and her Bhutanese counterpart Lyonpo Namgay Tshering jointly launched BHIM–UPI digital payment platform in Bhutan Tuesday in a virtual ceremony. 

The event was also attended by India's Minister of State (Finance) Bhagwat Kishanrao Karad, Royal Monetary Authority of Bhutan Governor Dasho Penjore, Inbdia'sSecretary, Department of Financial Services, i Debasish Panda, Indian Ambassador to Bhutan Ruchira Kamboj, and Bhutanese Ambassador to India General V. Namgyel.

Sitharaman said that the services have started in Bhutan under India's Neighbourhood First policy. She said the BHIM UPI mobile app, that makes real time payment, was one of the "brightest spots for digital transactions in India during the time of COVID-19 pandemic" with more than 100 million UPI QRs being created in the last five years. She said BHIM UPI in 2020-21 had processed 22 billion transactions worth value Rs 41 lakh crore.

Tshering thanked India for the launch of BHIM-UPI services in Bhutan and said the bond between the two countries has become stronger each passing day.

 This launch fulfils the commitment made by the two countries during the Prime Minister Narendra Modi's state visit to Bhutan in 2019. Following that visit, India and Bhutan have already enabled interoperability in acceptance of Rupay cards in each other’s countries in two phases – acceptance of Rupay cards issued in India at Bhutan based terminals in the first phase, and vice versa in the second phase.

With today’s launch of BHIM-UPI in Bhutan, the payment infrastructures of the two countries are seamlessly connected and will benefit a large number of tourists and businessmen from India who travel to Bhutan each year. This will enhance the ease of living and ease of travelling through cashless transactions at the touch of a button, Indian officials said. 

 As a part of the launch, Sitharaman also made a live transaction using BHIM-UPI to purchase an organic product from a Bhutanese OGOP outlet, which sells fresh farm produce made organically by local communities in Bhutan. (SAM)