Indian tourists to France will be able to pay for tickets to the Eiffel Tower and other attractions in rupees after Delhi and Paris agreed to use the Indian government's mobile-based payment system.
Indian Prime Minister Narendra Modi, who is on a two-day visit to Paris, on Thursday announced France had agreed to use the Unified Payments Interface, a single-window mobile system that allows a user to transfer money between bank accounts.
“I will go after signing the agreement,” Mr Modi told the Indian diaspora. "It is your responsibility to carry it forward."
“It (UPI) will be started from the Eiffel Tower. Now Indian tourists will be able to make payments in rupees, through UPI, at the Eiffel Tower."
France and especially Paris is one of the most popular travel destinations for Indians, with as many as 300,000 visiting each year, the French Embassy in India says.
The mobile payment method will make it easier for tourists, who will no longer have to carry cash.
The UPI was launched in 2016 and since has become one of the most used payment methods in the country, particularly after the pandemic, with even hawkers and vegetable vendors accepting the payment.
In May, the UPI hit a record of 9 billion transactions, said the National Payments Corporation of India (NPCI).
The NPCI, which launched the UPI, signed an agreement with France's fast and secure online payment system called Lyra last year.
India and Singapore also signed an agreement to integrate the UPI systems of each country to enable faster remittances.
The UAE, Bhutan and Nepal have already adopted the UPI system.
Mr Modi also announced Indian students pursuing master's degrees in France would now receive a five-year, post-study work visa.
"Earlier it was decided that students studying in France will get two years of work visa but now students who pursue their master's from France will get five years of work visa post-studies," Mr Modi said.
He received the Grand Cross of the Legion of Honour, France's highest award, from President Emmanuel Macron at the Elysee Palace in Paris.
On Friday, he will receive another prestigious accolade as he attends the Bastille Day celebrations in Paris as the guest of honour.
Bastille Day is the French national day and is marked by a military parade, along with dance performances and other celebrations.
Mr Modi has been invited to be guest of honour at celebrations that will feature French and Indian soldiers marching down the Champs-Elysees.
A contingent of 269 members of India's armed forces and at least three Indian Air Force Rafale fighter jets that Delhi bought from France in 2015 will take part in a fly-past, alongside French warplanes.
Delhi and Paris have shared strategic ties since 1998 and have remained partners in sectors such as civil nuclear, space and maritime security.
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Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
Squid Game season two
Director: Hwang Dong-hyuk
Stars: Lee Jung-jae, Wi Ha-joon and Lee Byung-hun
Rating: 4.5/5
Why it pays to compare
A comparison of sending Dh20,000 from the UAE using two different routes at the same time - the first direct from a UAE bank to a bank in Germany, and the second from the same UAE bank via an online platform to Germany - found key differences in cost and speed. The transfers were both initiated on January 30.
Route 1: bank transfer
The UAE bank charged Dh152.25 for the Dh20,000 transfer. On top of that, their exchange rate margin added a difference of around Dh415, compared with the mid-market rate.
Total cost: Dh567.25 - around 2.9 per cent of the total amount
Total received: €4,670.30
Route 2: online platform
The UAE bank’s charge for sending Dh20,000 to a UK dirham-denominated account was Dh2.10. The exchange rate margin cost was Dh60, plus a Dh12 fee.
Total cost: Dh74.10, around 0.4 per cent of the transaction
Total received: €4,756
The UAE bank transfer was far quicker – around two to three working days, while the online platform took around four to five days, but was considerably cheaper. In the online platform transfer, the funds were also exposed to currency risk during the period it took for them to arrive.
COMPANY%20PROFILE
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UAE currency: the story behind the money in your pockets
COMPANY%20PROFILE
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FIGHT INFO
Men’s 60kg Round 1:
Ahmad Shuja Jamal (AFG) beat Krisada Takhiankliang (THA) - points
Hyan Aljmyah (SYR) beat Akram Alyminee (YEM) - retired Round 1
Ibrahim Bilal (UAE) beat Bhanu Pratap Pandit (IND) - TKO Round 1
Men’s 71kg Round 1:
Seyed Kaveh Soleyman (IRI) beat Abedel Rahman (JOR) - RSC round 3.
Amine Al Moatassime (UAE) walk over Ritiz Puri (NEP)
The%20stats%20and%20facts
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The five pillars of Islam
UAE v Ireland
1st ODI, UAE win by 6 wickets
2nd ODI, January 12
3rd ODI, January 14
4th ODI, January 16
UAE currency: the story behind the money in your pockets
MATCH INFO
Uefa Champions League quarter-final second leg:
Juventus 1 Ajax 2
Ajax advance 3-2 on aggregate
Tamkeen's offering
- Option 1: 70% in year 1, 50% in year 2, 30% in year 3
- Option 2: 50% across three years
- Option 3: 30% across five years
ON%20TRACK
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RESULT
Bayern Munich 3 Chelsea 2
Bayern: Rafinha (6'), Muller (12', 27')
Chelsea: Alonso (45' 3), Batshuayi (85')