Prime Minister Narendra Modi along with his Bhutanese counterpart Lotay Tshering launched RuPay card Phase-II that will allow Bhutanese card holders to access RuPay network in India. The Prime Ministers of the two countries had jointly launched Phase-I of the project during Mr. Modi’s state visit to Bhutan in August last year.

Launching the card, PM Modi said that RuPay cards issued by the Bhutan National Bank can be used at ATMs for Rs 1 lakh and for Rs 20 lakh at point-of-sale terminals.

The implementation of Phase-I of RuPay cards in Bhutan has enabled visitors from India to access ATMs and Point of Sale (PoS) terminals across Bhutan. Phase-II will now allow Bhutanese card holders to access RuPay network in India, the Ministry of External Affairs said in a statement.

About RuPay

    • RuPay is the first-of-its-kind global Card payment network of India, with wide acceptance at ATMs, POS devices and e-commerce websites across India. 

    • It is a highly secure network that protects against anti-phishing.

    • The name is derived from the words "Rupee and Payment", emphasizing that it is India's very own initiative for Card payments. It is our answer to international payment networks, expressing pride over our nationality.

    • RuPay is a product of NPCI, the umbrella organisation that powers retail payments in the country. 

    • The provision under the Payment and Settlement Systems Act, 2007, empowered the Reserve Bank of India and Indian Banks Association to create a secure electronic payment and settlement system in India.

    • The initiative is to build the necessary banking infrastructure required to propel India towards a less cash economy. 

    • Presently, RuPay cards are issued by more than 1,100 banks which includes Public Sector Banks, Private Sector Banks, Regional Rural and Co-Operative Banks.

    • In addition to the Government scheme cards, RuPay Classic, Platinum & Select variant cards are designed for the masses and affluent customers offering excellent privileges and benefits such as International Acceptance, Domestic and International Airport Lounge Access, free personal accidental death and permanent total disability insurance coverage, various merchant offers, different Cashback scheme, Health and Wellness benefits to appeal to the mass and affluent customers.

(The author is a trainer for Civil Services aspirants. The views expressed here are personal.)