This will make RuPay one of the few international payment systems to be active in Russia. Moscow has faced a number of sanctions by Western countries since the war with Ukraine.
The highlight of using RuPay credit cards is that they are acquiring approval nationally and internationally. They can be used at many partner stores and ATMs across the country.
The card creates & uses an offline wallet on its own chip to store money in electronic form which can be used at Metro entry & exit gates without the need for any internet connection.
Foreign card payment network companies that fail to meet data localisation norms cannot register new customers or issue new cards in India. ThePrint explains.
Addressing the 73rd annual general meeting of the Indian Banks' Association, Finance Minister Sitharaman also asked banks to ensure all accounts are linked with Aadhaar number.
Standing up to America is usually not a personal risk for a leader in India. Any suggestions of foreign pressure unites India behind who they see as leading them in that fight.
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