In the first such collaboration for India, the country's flagship payments platform, the Unified Payments Interface (UPI), and Singapore's PayNow payment system have launched a real-time cross-border payment linkage system. The linkage, which was launched by Prime Minister (PM) Narendra Modi and Singapore's PM Lee Hsien Loong on Tuesday, was kicked off by a live cross-border transaction between Reserve Bank of India Governor Shaktikanta Das and Monetary Authority of Singapore managing director Ravi Menon, using mobile phones.
Attendance at the Singapore Grand Prix, one of the most popular races on the calendar fell this year, hurt by a slowdown in the local and global economy.
The Singapore Minister applauded Prime Minister Modi's effort to make India the manufacturing hub of the world.
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