Indian Prime Minister Narendra Modi has announced a $565-million line of credit to the Maldives during his visit to the Indian Ocean archipelago.

Indian Prime Minister Narenda Modi visited the island nation this weekend to boost political and economic ties. Modi said his country was committed to 'supporting the aspirations of the Maldivian people.

During Prime Minister Modi’s visit to the Maldives on Saturday, the Maldives Monetary Authority (MMA) signed an agreement. In a key development during the prime minister’s visit to the Maldives, the Maldives Monetary Authority (MMA) has signed an agreement with NPCI International Payments Limited (NIPL) to integrate the digital payment systems of both countries.