More countries, including Japan, a few from the West, interested in UPI linkages: RBI



International Desk, Barta24.com
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The Reserve Bank on Thursday said the internationalization of the unified payments interface (UPI) system is a work in progress as it works towards linking it with more and more overseas counterparts, including some in the West and Japan. On February 21, 2023, the RBI announced the first linkage of UPI by integrating it with Singapore's Paynow, paving the way for faster and more transparent remittances between the two countries.

Reserve Bank Governor Shaktikanta Das launched the new linkage in association with his Singaporean counterpart Ravi Menon, who is the managing director of the Monetary Authority of Singapore.

Announcing the third monetary policy review, Governor Shaktikanta Das said the RBI was planning to use artificial intelligence in UPI payments and also to deploy near-field communication (NFC) technology to be used in offline payments in UPI-Lite.

It also enhanced the transaction limit for small-value digital payments to Rs 500 from Rs 200 on UPI Lite.

On UPI linkages with more countries, the deputy governor T Rabi Shankar told reporters that "such integration has already been done with Singapore. And recently we signed an agreement with the UAE's payment system Integrated Payment Platform (IPP) to link UPI with their payment system.

"It is a work in progress and it will happen in the coming months and discussions are underway with a few other countries also for linking their payment systems with ours, including some advanced economies which have evinced interest in linking to UPI," he said.

Governor Das chipped in saying "UPI has now become internationally recognised. I am not saying it myself, but it is recognised very widely, and that it is perhaps the most efficient and advanced payment system in the world.

"At the recent G20 finance ministers and governors meeting, UPI was widely recognised. So this is a work in progress. We are already in discussion with a few other countries and it will happen soon."

To a question from a Japanese journalist whether some officials from the world's third-largest economy has contacted RBI for UPI linkage, Shankar answered in the affirmative saying a Japanese minister has contacted us.

"We are happy that a country like Japan which is an advanced economy, is showing interest in the UPI. Currently, it is only at an intention stage as the contact was mostly exploratory level. NPCI is talking to the relevant Japanese agencies," the deputy governor said.

AK Goel, the chairman of the Indian Banks' Association (IBA) said more user-friendly measures for UPI by way of conversational payments in UPI and further promoting the UPI-Lite by facilitating offline transactions using near field communication are expected to widen the coverage of UPI.

   

India has allowed onion export to 6 countries including Bangladesh



International Desk, Barta24.com, Dhaka
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India has approved the export of 99 thousand 150 tons of onions to 6 countries including Bangladesh. Other countries are - United Arab Emirates, Bhutan, Bahrain, Mauritius and Sri Lanka.

This information was given on the website of the Government of India on Saturday (April 27).

It said onion exports were banned to ensure domestic supply due to lower kharif and rabi seasons in the country in 2023-24 compared to the previous year. This increases the demand in the international market. Indian agency National Cooperation Exports Limited (NCEL) exports onions to these countries. They procure onions from internal sources through e-platform at lowest price (L1). Then, on a 100% advance payment basis, the rates are negotiated and supplied to the agencies or government-designated agencies in the destination countries.

NCEL fixes the prices with the buyers taking into consideration the prices of the countries where onion is bought, international and domestic prices. Now the quotas are allocated according to the demand of the countries where onion export is allowed.

Maharashtra is the largest onion producer in India. They are the largest supplier of onions to NCEL for export.

Earlier, Bangladesh had sent a formal letter to the Indian government to allow the export of certain quantities of onion to reduce the price of onion in the country's market during the holy month of Ramadan.

In addition, the country's government has allowed the export of additional 2000 metric tons of white onion. These onions are mainly exported to Middle East and some European countries. Due to the high production cost of white onion, its price is relatively high.

India is the world's largest onion exporter. The country's government had imposed a ban on onion exports till March 31, 2024 in December last year to maintain supply in the domestic market. Later it was extended indefinitely. The new decision to export onions is good news for India's friendly countries.

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We are ashamed to look at the development of Bangladesh: Pakistan PM



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Pakistani Prime Minister Shahbaz Sharif praised the economic progress of Bangladesh and said that they are ashamed to look at the development of Bangladesh.

According to a report by Pakistan-based media Dawn on Thursday (April 25), Shahbaz Sharif said this in a view exchange meeting with business representatives at the Sindh Chief Minister's residence in Karachi on Wednesday (April 24).

He said that before independence, Bangladesh i.e. East Pakistan at that time was considered a burden to the country. But they have made tremendous progress in the growth of industrialization.

Shahbaz Sharif said, I was very young when...we were told that it was a burden on our shoulders. Today you all know where that burden has reached (in terms of economic growth). And now when we look at them, we feel ashamed.

Currently, Bangladesh is ahead of Pakistan in almost all indicators of the socio-economic sector.

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Mass arrests could not stop anti-Israel protests at American universities



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US universities have erupted in protest over Israel's military operation in the Palestinian-besieged Gaza. This pro-Palestinian movement is being suppressed even after mass arrests. Rather, as the days go by, the protests are spreading.

The news agency Reuters reported that police made mass arrests at Atlanta's Emory University amid protests. A graduation ceremony at the University of Southern California was canceled due to the protests.

Emory University officials said protesters not affiliated with the college entered campus grounds early Thursday morning. When they refused to leave, the police used chemical spray to disperse them.

According to CBS News, about 108 people were arrested at Emerson College in the city on Wednesday night local time. Earlier in the evening, 93 people were taken into police custody from the University of Southern California in Los Angeles, California.

Anti-Israel protests have spread to dozens of US universities within a week of starting at New York's Columbia University.

Meanwhile, a clash between protesters and police took place at the University of Texas in Austin, Texas. Later, authorities said that 34 people were arrested from there. These new arrests came after massive arrests of protesters at Columbia, Yale and New York universities.

Students gathered Wednesday (April 24) to protest at the University of Southern California's Alumni Park. At this time they were stopped by the riot police. Protesters were told to leave within 10 minutes by an announcement from a police helicopter. However, the students who remained at the scene were arrested for trespassing.

The protests at the University of Southern California were reportedly peaceful at first. Later the tension spread with the presence of the police. Protesters threw water bottles at the police when they tried to arrest a woman. At this time, they kept shouting slogans - 'Let him go'. Besides, they surrounded the police officers and shouted slogans like 'I want the liberation of Palestine'.

It should be noted that on October 7, the Palestinian independence organization Hamas entered Israeli territory and carried out an ambush. 1200 people were killed. Because of this, since that day, the Israeli forces continue to attack Gaza indiscriminately. 34 thousand 305 Palestinians were killed in the Gaza Strip in the attack that lasted for more than six months. Apart from this, there is a severe humanitarian crisis due to lack of food, water and medical equipment.

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Iran is cracking down on women who don't wear Hijab



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Iran is cracking down on women and girls who don't wear Hijab. The country has started a new campaign named 'Noor' from last April 13. Since then, the implementation of the Hijab law has started to become stricter.

Iran has strict laws on wearing the Hijab. Strict action is taken against those who break this law.

Some videos of women being assaulted have gone viral on social media. In them, it is seen that women who go out without Hijab are forcibly picked up in cars by the members of the 'Morality Police'.

A video shows a mother and daughter walking through Tehran's busiest square in the capital. At that time, they were surrounded by five female and two male members of the police. When they tried to evade arrest, they were violently beaten and taken into a car.

Dina Ghalibaf, a female student at Tehran's Shahid Beheshti University, wrote on the micro-blogging site X that she was barred from boarding the metro. When she insisted, she was taken to a room. She claimed that she was beaten and sexually harassed there.

The student was arrested a day after making such a post and taken to Evin prison.

British newspaper The Guardian spoke to some of those arrested. One of them told the media that eight members of the police surrounded her last Saturday. At that time, she was called "prostitute", "naked American prostitute" and insulted her. Apart from this, the young woman claimed that men also touched her during the arrest.



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