India to launch RuPay Card in the Gulf Kingdom, Signs MoU with Saudi Arabia

Reader's Pick

The Government of India has signed the agreement with Saudi Arabia to launch its domestic card ‘RuPay Card’ in the country, the officials said on Tuesday.

In a statement issued by the government, the officials said that “The MoU to launch the RuPay cards in Saudi Arabia, was signed during the PM Narendra Modi’s visit.”

“There are more than 2.6 million Indians who are currently working in Saudi Arabia, and over two lakh Haj pilgrims and over three hundred thousand Umrah pilgrims from India visit Saudi Arabia every year. By having the acceptance of the RuPay card in Saudi Arabia, it will allow them to transact at the cheaper rates,” the statement added.

- Advertisement -

Rupay Card, which has nearly 500 million RuPay cards in circulation in India, has already launched its card in countries like “UAE, Singapore, Bhutan, and Bahrain.”

- Advertisement -

Read latest Business News and Startup news on TechGraph. Watch live and latest news on TechGraph TV. Follow us on Facebook or follow us on Twitter and Instagram. Listen audio news from TechGraph Briefings on Spotify, Google Podcast, Amazon Music & on Apple Podcast.
 

Krishna Mali
Krishna Mali
Founder & Editor of TechGraph.

Latest News

Promoted Links

Related Stories

Bank of Japan keeps monetary policy steady, brings new forward guidance on rates

The Bank of Japan kept its monetary policy steady on Thursday but introduced new...

Employees union seeks FIR against Jet Airways boss Naresh Goyal, Vinay Dube and on SBI Chairman

The employee union of Jet Airways, which is facing its worst crisis, Friday sought...

Japan approves 26 trillion yen as economic stimulus package to combat overseas risks

Japan's cabinet approved an economic stimulus package worth 26 trillion yen ($239 billion) with...

Samsung Electronics asks its shareholders to use electronic voting for upcoming AGM

Technology giant Samsung Electronics has adopted electronic voting for the first time ever for...

Rahul Gandhi hits on RCEP says, ‘Make in India’ has become ‘Buy from China’

Asserting that "Make in India" has become "Buy from China," Congress leader Rahul Gandhi...

CASHe launches WhatsApp-based instant credit line services

India-based credit-led Ai-driven fintech platform, CASHe has announced the launch of Ai-powered chat capability...

Budget 2022-23: Banking, NEO Bank & NBFC Sector Expectations

Banking, Neo Bank & NBFCs sector expectations from Budget 2022: As Union Finance Minister...

Maruti Suzuki plans to increase vehicle prices from next month

India’s leading automaker Maruti Suzuki has decided to increase the prices of its vehicles...

How to choose top payout casinos online

Each casino sets its conditions for the withdrawal of winnings. However, all gambling clubs...

Almirall onboards Mercedes Diz as VP of Corporate Strategy

Spanish biopharmaceutical company, Almirall has announced the appointment of Mercedes Diz as Vice President...

Adtech startup ExperientalEtc raises $200K from StartupLanes

Mumbai-based Adtech startup, ExperientalEtc has raised $200K in series seed round funding led by...

4 Top Challenges in a Small Business

Running a small business is not easy. You will face many challenges along the...

Ampere Electric to setup e-mobility manufacturing plant in Tamil Nadu

Electric Mobility Company Ampere Electric has announced a phased investment potential of Rs 700...

How Ginesys retail ERP Software Can Solve 7 Common Manufacturing Problems

The retail industry is undergoing a massive transformation. Customers nowadays prefer shopping through multiple...