Prime Minister Modi Officially Launches NPCI’s RuPay Card Payment System in the Kingdom of Bhutan

News

India’s Prime Minister Narendra Modi recently spent a two-day state visit to the Kingdom of Bhutan to meet with with Bhutanese leaders led by Prime Minister Dr Lotay Tshering. The visit further strengthens bilateral ties through the signing of nine (9) Memorandum of Understanding (MoU). The agreements signed by the leaders of the two countries included the launching of the RuPay Card, India’s proprietary card payment system.

To officially launch the credit card payment scheme, PM Modi made the first RuPay purchase at Simtokha Dzong, one of the dzongs in Bhutan which currently serves as the country’s administrative and monastic centre.

The RuPay card payment system, owned and operated by the National Payments Corporation of India (NPCI), enables Indian RuPay card holders to make purchases by way of credit and debit cards, as an alternative to the Visa and Mastercard international card payment schemes. The launching of RuPay in Bhutan makes the country the second nation, after Singapore, in which citizens in both countries are empowered to use a RuPay credit or debit card for seamless, cashless purchases.

The MoU signed by the two leaders include a standby swap arrangement involving an additional $100 million made available to Bhutan in meeting the related foreign exchange requirements.

The deployment of the RuPay card payment system in the Kingdom of Bhutan will transpire in two phases. The first phase entails the issuance of Rupay Cards by Indian banks, to qualified Indian nationals, which they can use during their visits to Bhutan. The second and final phase will be carried out by Bhutan banks in which RuPay cards will be issued to qualified Bhutanese citizens for their sojourns in India.

About India’s RuPay Card Payment System

RuPay card scheme was the project conceived by the NPCI in fulfilling the Reserve Bank of India’s (RBI’s) vision to have a locally operated open and multilateral payment system. The goal is to provide Indian nationals with a credit payment facility that charges lower processing fees than the card payment systems offered by Visa and Mastercard.

The RBI through its 2009-2012 vision stated that the need for such payment systems in the country arises from the high cost of affiliation that Indian banks have to bear in order to obtain accreditation with international card companies like Visa and Mastercard. As a result, even domestic credit card transactions that account for more than 90% in India’s market were being routed outside of the country.

Rupay processing fees for credit transactions are 23% lower than those charged by the companies behind the two leading international credit cards. The NPCI collects only 60 paise from the acquiring bank and 30 paise from the bank that issued the RuPay card

Backed by 10 leading banks, 6 of which are public-sector banks that include the Bank of Baroda, Canara Bank, the State Bank of India, Punjab National Bank, Bank of India, and the Union Bank of India; two (2) private-sector banks represented by HDFC Bank and ICICI Bank ; and two (2) foreign banks, namely Citibank and HSBC.

Presently, the NPIC has issued 64 million Rupay Global Cards released between 2014 and March 2019.

Amazon for one, which has an India branch makes it possible for Indian online consumers to stay active members via RuPay cards, especially during the holding of the online store’s annual Amazon Great Indian Sale.

El Paso Mass Shooter Echoes Trump’s “Invasion” Rhetorics but Trump Refuses to Accept Responsibility

News, Politics

The gunman responsible for the El Paso mass shooting last Saturday reportedly posted a manifesto on the 8chan online forum, warning readers about “Hispanic invasion,” minutes before he gunned down shoppers at the El Paso Walmart. The incident has more than ever amplified concerns over Trump’s repeated use of the word “invasion.” Although stated as a rhetoric about the rising number of Latino immigrants coming into the country

Instead of acknowledging even a hint of responsibility that his oft repeated rhetoric about “immigrant invasions:”somehow influenced the El Paso mass shooter to commit the “hate crime,” Donald Trump typically blamed other factors such as mental health and violent video games. He also blames Democrats for linking his rhetoric invasions to the recent spate of mass shootings, including the shooting incident that occurred in Ohio on the same day.

Police identified Saturday’s El Paso mass as Patrick Crusius, who turned 21 a week before he drove 10 hours from his hometown in Allen, Texas to commit a hate crime. Crusius is currently held in El Paso jail without bail and has been charged with capital murder.

Survivors and Witnesses Said Crusius Targeted Only Hispanics

According to relatives of the victims who were also at the scene of the shooting, Crusius was determined to kill only those that appeared to be of Latinx origin.

Chris Grant, a 50-year old African American whom Crusius took shots at only after Grant started throwing soda bottles as a way of distracting the shooter still have vivid memories about the incident. Grant recalls that Crusius had let white and black shoppers leave the store before shooting the victims. Since Grant was shot, he witnessed how the victims kneeled and prayed, begging Crusius to

‘Please! Please! Don’t shoot me.’

Grant said the memory of how Crusius just gunned down people who were already on the ground without any sign of remorse, still haunts him.
Still, Trump refuses to accept that the “invasion” rhetoric directed toward immigrants passing through the US. Mexico Border had nothing to do with the gunman’s actions.

El Paso Residents Want Trump to Apologize to the Community

Generally, the people of El Paso does not intend to welcome Trump upon his arrival. City Representative Alexsandra Annello though received some messages that encouraged welcoming Trump because the mass shooting is not about politics.

The City Representative disagrees, saying that after a week, people can expect Trump to turn around and resume mouthing the same racist rhetoric. After putting the community of El Paso in danger, she does not see Trump apologizing to the Hispanic people.