New Delhi, March 21: A new initiative has been launched to promote digital payments between India and Bhutan. Soon, a cross-border money transfer service via UPI will be introduced, allowing easy remittance between the two countries.
This service will be facilitated through the postal network, connecting the Universal Postal Union’s (UPU) post transfer system with India’s Unified Payments Interface (UPI).
The initiative aims to provide a cost-effective and convenient way for people in both nations to send and receive money, thereby strengthening financial connectivity.
India and Bhutan have signed a Memorandum of Understanding (MoU) to enhance postal cooperation, establishing a framework for collaboration between India Post and Bhutan Post.
Under this agreement, cooperation will be increased in areas such as postal services, technological development, logistics connectivity, philately, capacity building, and knowledge exchange.
Both countries have also emphasized training and skill development. Bhutanese postal officials will participate in training programs in India, including those at the Rafi Ahmed Kidwai National Postal Academy and other training centers.
These programs will cover operations, management, and new technologies to improve postal services.
Additionally, India and Bhutan have agreed to enhance cooperation in the technical sector, sharing technologies like digital postal systems and digital address codes to improve logistics and services.
The two nations have also committed to continuing collaboration in cultural exchange and philately. Bhutan Post has been invited to participate in a stamp exhibition held in India.
India has expressed its readiness to share its experience in strengthening financial services through the postal network and making banking facilities more accessible to the people of Bhutan.
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