GoI releases Nu. 1.19 bn for plan activities and both countries launch Rupay

The Ministry of Foreign Affairs, Royal Government of Bhutan (RGoB), received from the Embassy of India in Thimphu a cheque amounting to Nu. 1.19 billion for the Project Tied Assistance (PTA) on 19 November 2020. This release of funds is part of the Government of India’s (GoI) assistance to the RGoB’s PTA projects under the 12th Five Year Plan (FYP). Of the total commitment of GoI to the RGoB for the 12th FYP, Nu. 28 billion is allocated for the PTA projects. 

These funds will be used for the implementation of five PTA projects which are blacktopping of 20 GC roads, development of industrial parks in Jigmeling, reconstruction of Wangduephodrang Dzong, Government initiated network project plan and development of urban infrastructure development in Nanglam.

Also, Prime Narendra Modi, of India, and Lyonchhen Dr. Lotay Tshering, jointly e-launched the second phase of the RuPay Card on 20th November 2020. The first phase of the RuPay Card was jointly launched by the two Prime Ministers on 17th August 2019 during the State Visit to Bhutan by the PM of India.

The RuPay card scheme is a cross-border payment initiative between Bhutan and India, which is aimed at promoting the use of low-cost digital payment solutions and digital financial inclusion.

The launch of the second phase will enable Bhutanese travellers to India to use their local bank cards in all the access points offered by the banks in India. The BNBL’s RuPay debit cards will be accepted at more than 100,000 ATMs and 2 million PoS terminals in India for cash withdrawal, balance inquiry and purchases.

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