Banking & Finance
Oman
Technology Sharing
On 4th October, 2022, a Memorandum of Understanding (MoU) was signed between National Payments Corporation of India (NPCI) International Payments Ltd (NIPL) and Central Bank of Oman (CBO) during the visit of Hon’ble Minister of State for External Affairs and Parliamentary Affairs Shri V. Muraleedharan to Sultanate of Oman. This MoU will enable the acceptance of Indian RuPay cards issued by banks in Bharat at all OmanNet network ATMs, POS & E-commerce sites; as well as reciprocal acceptance of Oman cards/MPCSS in the networks of NPCI in Bharat. The MOU will also enable building partnerships for real-time cross border remittances between Bharat and Oman using UPI rails. The MOU between NPCI and CBO is a milestone in bilateral relations between Bharat and Oman and will play an important role in strengthening the people to people ties and benefiting both economies.
