Reserve Bank of India and Nepal Rastra Bank signed a pact for UPI-NPI linkage
Team Current Hunt
Reserve Bank of India and Nepal Rastra Bank signed a pact for UPI-NPI linkage.
For seamless cross-border remittances transfer, the Reserve Bank of India (RBI) and Nepal Rastra Bank signed an agreement to integrate the Unified Payments Interface (UPI) of India and the National Payments Interface (NPI) of Nepal.
The integration of Indian and Nepalese fast payment systems will enable users of both systems to make instant and low-cost fund transfers.
The formal commencement of operations would take place at a later date.
This pact will strengthen financial connectivity between both countries through the UPI-NPI linkage.
Recently, Sri Lanka, Mauritius, and France have enabled the Unified Payments Interface (UPI) of India for payments.
