Business
India’s UPI services launched in Sri Lanka; President describes it as ‘history repeating in digital format’
By Sanath Nanayakkare
India’s Unified Payments Interface (UPI) services were introduced in Sri Lanka and Mauritius at a virtual event held yesterday.
The virtual ceremony was attended by Indian Prime Minister Narendra Modi, Mauritian PM Pravind Jugnauth and Sri Lanka’s President Ranil Wickremesinghe.
The launch of the Indian payment methodology in Sri Lanka and Mauritius came amid New Delhi’s increasing bilateral economic ties with the two countries.
The launch enables the availability of UPI settlement services for Indian nationals travelling to Sri Lanka and Mauritius as well as for Mauritian nationals travelling to India.
“This would increase the tourism between India, Sri Lanka and Mauritius. I am confident that Indian tourists would also prefer destinations where UPI services are available,” PM Modi said.
“Digital Public Infrastructure has brought about a revolutionary change in India. Even the smallest businessman in our smallest village is making digital payments because it has convenience as well as speed,” the Indian PM pointed out.
President Ranil Wickremesinghe addressing the audience said that trade relations have existed between the two countries running into many centuries and there have been a lot of evidence for this as ancient Indian coins had been found in various parts of Sri Lanka during excavations in the dry zone.
“There were no Central Banks at the time, but yet bilateral trade had taken place among the two peoples. So, what is happening today is; we are upgrading our payment methodologies into a contemporary digital format,” he said.
“During my visit to India last year, a vision document was adopted by the two nations. Increasing the financial connectivity was a key part of it. A detailed discussion was also held with Mauritius PM Pravind Jugnauth last year on this topic. I recently had discussions with Indian External Affairs Minister, Dr. Jaishankar whilst in Perth, Australia about Fintech and we found that the momentum in this regard was satisfactory. Now, Sri Lanka can harness this digital payment infrastructure for the benefit of Indian tourists visiting Sri Lanka,’ he said.
According to Hindustan Times, earlier this month, France allowed Indian tourists visiting the iconic Eiffel Tower in Paris to buy tickets via UPI mechanism. France is the first European country to accept UPI payments. This UPI service will be extended to other tourism and retail merchants in the European nation.
Last year, an essential MoU was exchanged between the Reserve Bank of India and the Central Bank of UAE, aiming to interlink the payment and messaging systems of both countries. The MoU was also aimed at fostering seamless integration between India’s Unified Payments Interface (UPI) and the UAE’s Instant Payments Platform (IPP), Hindustan Times said.
The Delegation of German Industry and Commerce in Sri Lanka (AHK Sri Lanka) proudly facilitated the first-ever Sri Lankan delegation’s participation at Drupa 2024, the world’s largest trade fair for the printing industry and technology. Held after an eight-year hiatus, Drupa 2024 was a landmark event, marking significant advancements and opportunities in the global printing industry.
AHK Sri Lanka played a pivotal role in organising and supporting the delegation, which comprised 17 members from the Sri Lanka Association for Printers (SLAP), representing eight companies from the commercial, newspaper, stationery printing, and packaging industries. This pioneering effort by AHK Sri Lanka not only showcased the diverse capabilities of Sri Lanka’s printing sector but also facilitated vital bilateral discussions with key stakeholders from the German printing industry.
Business
Unveiling Ayugiri: Browns Hotels & Resorts sets the stage for a new era in luxury Ayurveda Wellness
In a captivating reimagining of luxury wellness tourism, Browns Hotels & Resorts proudly unveiled the exquisite Ayugiri Ayurveda Wellness Resort Sigiriya. This momentous occasion, celebrated amidst a vibrant and serene grand opening on the 6th of June, heralds a new chapter in the Ayurveda wellness tourism landscape in Sri Lanka. Nestled amidst 54 acres of unspoiled natural splendour, Ayugiri features 22 exclusive suites and stands out as the only luxury Ayurveda wellness resort in the country offering plunge pools in every room, rendering it truly one-of-a-kind.
The grand opening of Ayugiri Ayurveda Wellness Resort was an enchanting event, where guests were captivated by the melodies of flutists and violinists resonating through Sigiriya’s lush landscapes. As traditional drummers and dancers infused the air with vibrant energy, Browns Hotels & Resorts’ CEO, Eksath Wijeratne, Kotaro Katsuki, Acting Ambassador for the Embassy of Japan and General Manager, Buwaneka Bandara, unveiled the resort’s new logo, marking a significant moment witnessed by distinguished guests from the French Embassy, Ayurveda and wellness enthusiasts along with officials from the Sigiriya area, LOLC Holdings and Browns Group.
“Our strategic expansion into wellness tourism with Ayugiri Ayurveda Wellness Resort Sigiriya symbolises a significant milestone for Browns Hotels & Resorts. Wellness tourism has consistently outperformed the overall tourism industry for over a decade, reflecting a growing global interest in travel that goes beyond leisure to offer rejuvenation and holistic well-being. By integrating the timeless wisdom of Ayurveda with modern luxury, we aim to set a new standard in luxury wellness tourism in Sri Lanka. Whether your goal is prevention, healing, or a deeper connection to inner harmony, Ayugiri offers a sanctuary for holistic well-being” stated Eksath Wijeratne.
Ayugiri encapsulates the essence of life, inspired by the lotus flower held by the graceful queens of the infamous Sigiriya frescoes. Just as the lotus emerges from the murky depths, untainted and serene,
Ayugiri invites guests on a journey of purity and rejuvenation, harmonised with a balance of mind, body and spirit, the essence of nature, echoes of culture and the wisdom of ancient Ayurvedic healing.
HNB General Insurance, one of Sri Lanka’s leading general insurance providers, has been honored as the Best General Bancassurance Provider in Sri Lanka 2024 by the prestigious Global Banking and Finance Review – UK.
The esteemed accolade underscores HNB General Insurance’s unwavering commitment to excellence and its outstanding performance in the field of bancassurance. Through dedication and hard work, the HNB General Insurance team has continuously endeavored to deliver innovative insurance solutions, cultivate strong relationships with banking partners, and provide unparalleled service to customers nationwide. This recognition is a testament to the team’s dedication and relentless pursuit of excellence in the bancassurance business.
“We are honored to receive this prestigious award, which reflects our team’s tireless efforts and dedication to delivering value-added insurance solutions and exceptional service through our bancassurance partnerships,” said Sithumina Jayasundara, CEO of HNB General Insurance. “This recognition reaffirms our position as a trusted insurance provider in Sri Lanka and motivates us to continue striving for excellence in serving our customers and communities.”
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