India, June 11 -- The Government of India has issued a release:
In a major boost to digital financial connectivity and neighbourhood cooperation, India and Nepal officially launched a peer-to-peer (P2P) cross-border remittance mechanism on June 6, 2026.
The newly operationalized system establishes a direct link between India's Unified Payments Interface (UPI) and Nepal's National Payments Interface (NPI). This integration enables citizens of both nations to make seamless, real-time, and secure instant money transfers directly via mobile banking applications and digital wallets.
The UPI-NPI linkage represents a major advancement in financial inclusion, fostering stronger economic and digital ties between India and Nepal. This aligns perfectly with regional goals for accessible, safe, and affordable cross-border payments, reinforcing longstanding social and economic bonds.
Driving Economic and Digital Integration:
The technical integration was executed via collaboration between NPCI International Payments Limited (NIPL), the international arm of the National Payments Corporation of India-and the Nepal Clearing House Limited (NCHL).
The Strategic Impact: Key Features of the UPI-NPI Remittance Linkage:
This digital payment corridor represents a major shift in how commerce operates between the two countries, delivering immediate benefits:
UPI Coverage around the world:
UPI is accepted in Nine countries - Singapore, the United Arab Emirates, France, Mauritius, Nepal, Bhutan, Qatar, Sri Lanka and Cambodia - enabling Indian travellers to make seamless payments abroad through familiar platforms.
Disclaimer: Curated by HT Syndication.
