Singapore PM Lee Hsien Loong arrives in Delhi to take part in G20 Summit
People in both the countries will be able to send money real-time via QR-code based or simply by entering mobile numbers linked to the bank account.
New Delhi: Singapore Prime Minister Lee Hsien Loong has arrived in New Delhi to participate in the upcoming G20 Summit going to be held on September 9 and 10.
Prime Minister Loong was received by L Murugan, Minister of State for Information and Broadcasting of India on Friday. Meanwhile, India is all geared up to host global leaders for the G20 Summit scheduled on September 9-10 in New Delhi.
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This is the first time that G20 Summit is taking place under India’s presidency. The event will be graced by many global leaders and delegates. Extensive preparations and arrangements have been made for the summit, with an intention of showcasing both India’s soft power as well as modern face.
A G20 Leaders’ declaration will be adopted at the conclusion of the G20 Summit, stating Leaders’ commitment towards the priorities discussed and agreed upon during the respective ministerial and working group meetings.
Earlier this year, India and Singapore linked their respective online payments systems — Unified Payments Interface (UPI) of India and PayNow of Singapore — for seamless cross-border transactions between the two countries.
The virtual launch function was attended by Prime Minister Narendra Modi and Singaporean counterpart Lee Hsien Loong.The linkage of these two payment systems of both countries would enable residents of both countries to the faster and more cost-efficient transfer of cross-border remittances.
People in both the countries will be able to send money real-time via QR-code based or simply by entering mobile numbers linked to the bank account.
This collaboration will also help the Indian diaspora in Singapore, especially migrant workers and students through instantaneous and low-cost transfer of money from Singapore to India and vice-versa.
Singaporean High Commissioner to India Simon Wong Wie Kuen further said that this collaboration would take bilateral relations to greater heights and his country looks forward to continuing to be part of India’s digital transformation journey.
Moreover, the close ties between India and Singapore have a history rooted in strong commercial, cultural and people-to-people links across a millennium.
