BANKING & FINANCE
UPI / NPCI
NIPL Expands Indian UPI Acceptance to Sri Lankan Merchant Network
NPCI International Payments Limited (NIPL) has successfully operationalized UPI merchant payments across Sri Lanka, allowing Indian tourists to pay via local QR codes.
The system enables real-time, account-to-account transfers using existing Indian UPI-enabled mobile apps without the need for physical currency exchange.
This initiative aims to bolster bilateral economic ties and improve the cross-border digital payment experience for millions of travelers between the two nations.
Sri Lanka joins a growing list of over eight countries, including France, UAE, and Singapore, that accept India's indigenous digital payment interface.
Exam Perspective: The globalization of UPI showcases India's leadership in FinTech and strengthens the 'Digital India' footprint on an international scale.
The system enables real-time, account-to-account transfers using existing Indian UPI-enabled mobile apps without the need for physical currency exchange.
This initiative aims to bolster bilateral economic ties and improve the cross-border digital payment experience for millions of travelers between the two nations.
Sri Lanka joins a growing list of over eight countries, including France, UAE, and Singapore, that accept India's indigenous digital payment interface.
Exam Perspective: The globalization of UPI showcases India's leadership in FinTech and strengthens the 'Digital India' footprint on an international scale.
Key Facts / Static GK
NPCI CEO: Dilip Asbe
NIPL (NPCI International Payments Limited) is a wholly-owned subsidiary of NPCI.
UPI Launch Year: 2016
NIPL (NPCI International Payments Limited) is a wholly-owned subsidiary of NPCI.
UPI Launch Year: 2016
Practice Quiz — 20 March 2026
Q1. What does the name of the joint military exercise 'LAMITIYE' mean in the Creole language?
Answer: (C) Friendship — The term 'LAMITIYE' means 'Friendship' in the Creole language, reflecting the cooperation between India and Seychelles.
Q2. In the VRR auction conducted by RBI on 20th March 2026, what was the total amount actually injected into the banking system?
Answer: (C) ₹48,014 crore — According to the news report, while the RBI offered ₹1.50 lakh crore, the actual liquidity injection via the VRR auction was ₹48,014 crore due to lower uptake by banks.
Q3. Regarding the expansion of UPI in Sri Lanka, which of the following statements is true?
Answer: (B) Payments are made by scanning Lanka QR codes through UPI apps. — Indian users can make real-time payments in Sri Lanka by scanning Lanka QR codes using their preferred UPI-enabled mobile applications.
Q4. Which company has launched the world's first Autonomous Maritime Shipbuilding Centre in Nellore?
Answer: (B) Sagar Defence Engineering Pvt Ltd — Sagar Defence Engineering Pvt Ltd has launched this center, which is the first of its kind globally, in Nellore, Andhra Pradesh.
Q5. In the newly launched hybrid passive index fund by Edelweiss AMC, what is the allocated ratio between Equity and Debt components?
Answer: (C) 70:30 — The fund, as indicated in its name and strategy, maintains a fixed asset allocation of 70% in Equity and 30% in Debt (Government Securities).
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