Digital Payments: UPI hit a record in July, with transaction value rising 19% to Rs 29.88 lakh crore and volume reaching 23.66 billion, as NPCI data showed continued momentum in India’s cashless push. Cross-Border Finance: UPI’s international footprint keeps expanding, with Bhutan listed among the countries where the system is already live, reinforcing faster remittances and payments for cross-border users. India–Bhutan Development: India and Bhutan reviewed cooperation during Foreign Secretary Vikram Misri’s Thimphu visit, approving 12 new projects worth Rs 332 crore and signing a Rs 4,000-crore Line of Credit for energy-related work. Infrastructure Pipeline: Bhutan’s Gelephu–Tareythang Road Project cleared a key planning step, with the DPR targeted for completion this year and construction expected to start mid-next year, aiming to cut travel time and support southern connectivity. Trade & IP for Producers: Bhutan registered its first four Geographical Indication products—Bumthang Yathra, Bumthang Honey, Dhur-Tandingang Gonthok, and Merak-Sakteng Zoetey—giving rural producers stronger protection and market value. Sovereign Digital Assets: Gelephu Mindfulness City tapped 3iQ Corp as the first institutional manager for part of its Bitcoin treasury, formalising a new phase in Bhutan’s digital-asset ambitions. US Visa Policy Impact: The US made its visa bond programme permanent for nationals of 50 countries, including Bhutan, with bonds up to $20,000 for certain B1/B2 applicants—an added compliance cost for travel planning.