Revitalizing Bilateral Relations: PM Modi’s UAE Visit Sparks New Vigor
Strengthening cooperation in the cross-border payment systems by enabling integration of transactions between the UAE and India more efficiently, PM Modi's latest UAE visit witnessed the signing of a landmark MoU between the Reserve Bank of India and the Central Bank of the United Arab Emirates to promote the use of local currencies --rupee and dirham-- for cross border transactions. This cooperation will also include the mutual acceptance of domestic card schemes by interlinking national card switches.
