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India-Nepal Link: Money Moves Instantly!
9 Jun
Summary
- UPI and NPI systems now linked for instant cross-border payments.
- Remittances are now secure, affordable, and faster between India and Nepal.
- Financial inclusion is boosted by simplified digital money transfers.
India and Nepal have officially launched a direct payment linkage connecting India's Unified Payments Interface (UPI) and Nepal's National Payments Interface (NPI). This groundbreaking initiative enables real-time cross-border remittances between the two nations.
The service was introduced by NPCI International Payments Limited in partnership with Nepal Clearing House Ltd. It allows Indian and Nepalese users to send person-to-person (P2P) money transfers across borders using mobile numbers or virtual payment addresses.
This new UPI-NPI connection offers a simplified, secure, and more affordable remittance process. Users can transfer funds without sharing bank account details, ensuring faster transactions. The initiative aligns with G20 objectives to make cross-border payments more accessible and affordable.
Officials stated the platform will provide timely support to families relying on remittances, reducing traditional transfer costs and increasing transparency. The collaboration is expected to strengthen the economic corridor and serve as a model for future international digital payment systems.
