India, Bangladesh sign MoU on smoother cross-border payment transactions

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Dipanjan Roy Chaudhury

, ET BureauLast Updated: Sep 08, 2023, 10:52 PM IST

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India and Bangladesh have signed three Memorandums of Understanding (MoUs) to enhance commercial ties and cooperation in agricultural research and education. One MoU is between NPCI International Payments Limited and Bangladesh Bank, which aims to facilitate cross-border transactions and the acceptance of RuPay Card in Bangladesh.

India, Bangladesh — Representative image.

India and Bangladesh on Friday following dialogue between their Prime Ministers signed three MoUs including one between NPCI International Payments Limited and Bangladesh Bank to enhance commercial ties.

MoU between Indian Council for Agricultural Research (ICAR) and Bangladesh Agricultural Research Council (BARC) on cooperation in agricultural research and education envisages exchange of scientists,

scientific equipments, scientific literature,germplasm and breeding material, sources said.

The MoU will be implemented through development of biennial Work Plans to be developed jointly. It also envisages setting up of a Joint Working Group from both countries that will meet once in two years in New Delhi and Dhaka.

There was a renewal of MoU on Cultural Exchange Program (CEP) for 2023-2025. The MoU was signed on 6 June 2015 and was last renewed in 2019 for the years 2021-2023. It envisages holding cultural activities to strengthen cooperation in the areas of archaeological conservation, youth affairs, sports and mass media etc.

In the next two years, both countries will exchange the visits of scholars/academicians in the field of art, culture and literature for two weeks.

The scope of the MoU between NPCI International Payments Limited and Bangladesh Bank is issuance of RuPay Prepaid Card from Bangladesh, establishing acceptance of RuPay Card in Bangladesh at ATM and commercial transactions, cross border remittance, enabling acceptance of UPI through QR code in Bangladesh at Merchant locations.

Friday, 08 Sep, 2023

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