India and Singapore launch joint digital payment mechanism

21-Feb; India and Singapore have launched a joint digital payment mechanism enabling residents of both the countries to make easy and faster cross-border transactions. Unified Payments Interface (UPI) of India and PayNow of Singapore have made a tie-up to facilitate these transactions.The facility was jointly launched by Reserve Bank of India Governor Shaktikanta Das and Managing Director of the Monetary Authority of Singapore Ravi Menon today.