Modi's Malaysia Visit: UPI Integration, Local Currency Boost Bilateral Ties

• India and Malaysia agreed to deepen digital payments cooperation and expand local currency use during PM Modi's visit.
• The Malaysia-India Digital Council (MLDC) was launched, backing the NPCI–PayNet link for UPI introduction in Malaysia.
• This move will simplify cross-border payments for businesses and travelers, strengthening financial ties.
• Both nations will accelerate central bank cooperation for ringgit-rupee settlements to cut transaction costs and reduce third-party currency dependency.
• 11 MoUs were signed in areas including semiconductors, defence, disaster management, and peacekeeping.