Reserve Bank of India and Nepal Rastra Bank Sign ‘Terms of Reference’ on Integration of India’s UPI With Nepal’s NPI for Cross-Board Remittances

RBI has signed 'Terms of Reference' with Nepal Rashtra Bank on "integrating UPI of India with NPI (National Payments Interface) of Nepal. It aims to allow cross-border remittances between the two countries and help users in making instant and low-cost fund transfers. The collaboration between India and Nepal through UPI-NPI Linkage will boost financial connectivity and also manage the historical, cultural, and economic ties between these two countries. Moreover, with the help of the 'Terms of Reference' between RBI and NRB, UPI and NPI will be interlinked through necessary systems. Recently, PM Narendra Modi's government also launched UPI and RuPay services in Sri Lanka and Mauritius. UPI Payment Services Launched in Sri Lanka, Mauritius During Virtual Ceremony Attended by PM Narendra Modi and Leaders of Two Islands.

RBI and NRB Sign 'Terms of References' For Integrating UPI and NPI:

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