India, Malaysia Partner for Cheaper Cross-Border Payments, Digital Council Launched

• India and Malaysia formalize the Malaysia–India Digital Council (MIDC) to deepen cooperation in fintech, e-governance, cybersecurity, AI, and Digital Public Infrastructure.
• NPCI International Limited and PayNet Malaysia to establish bilateral payment linkages for seamless, low-cost cross-border payments and remittances.
• Both governments encourage greater use of local currency settlement, invoicing, and trade in Indian rupee and Malaysian ringgit.
• Leaders push for wider economic cooperation in semiconductors, advanced manufacturing, energy, climate, and food security.
• Security cooperation, including defense exchanges and counter-terror collaboration, remains a key focus, with the fifth Harimau Shakti joint military exercise planned.