Myanmar – India: CBM Governor received Ambassador of India

The Governor of the Central Bank of Myanmar, Dr. Khin Naing Oo, received Mr. Abhay Thakur, Ambassador of India to Myanmar, and his delegation on Tuesday at the meeting hall of Central Bank of Myanmar in Nay Pyi Taw.

During the meeting, they openly and cordially discussed matters including the current status of cooperation on the Indian Rupee / Myanmar Kyat direct payment mechanism in trade and investment, and efforts to make it more beneficial, the ongoing collaboration to establish interoperability between India's UPI QR and RuPay systems and Myanmar's MMQR infrastructure, involving the Reserve Bank of India, the National Payments Corporation of India (NPCI), the Central Bank of Myanmar's MMQR Consortium, and Myanmar Payment Union (MPU), the drafting of a memorandum of understanding regarding the establishment of a Bilateral Currency Swap Arrangement between the two central banks and ways to further strengthen mutually beneficial banking cooperation. The meeting was attended by the Deputy Governors of the Central Bank of Myanmar and responsible officials from relevant departments.