NRIs from 12 countries can now instantly transfer money using UPI
By MYBRANDBOOK
The National Payments Corporation of India (NPCI) has introduced a major update to the Unified Payments Interface (UPI), enabling Non-Resident Indians (NRIs) to link their international mobile numbers to UPI. This new feature provides NRIs with an efficient, instant way to transfer funds to India, addressing delays often experienced with traditional wire transfers.
Under this update, NRIs with Non-Resident External (NRE) or Non-Resident Ordinary (NRO) accounts can link their international mobile numbers to their UPI accounts, allowing them to send money directly from their smartphones. Whether for family support, service payments, or other expenses, NRIs can now make seamless UPI transactions from abroad.
Currently, NRIs with mobile numbers registered in 12 countries, including Australia, Canada, France, Hong Kong, Malaysia, Oman, Qatar, Saudi Arabia, Singapore, the UAE, the UK, and the US, can use this service by downloading specific UPI-supported apps. NPCI plans to expand the list of supported countries as it collaborates with banks and financial entities to increase UPI’s accessibility for NRIs.
To start using UPI, NRIs need to link their international mobile number to their NRE or NRO bank account, then download a compatible UPI app, such as FedMobile, iMobile, BHIM Indus Pay, SIB Mirror+, BHIM AU, BHIM, or PhonePe. Once downloaded, users can complete the onboarding process on the app to enable UPI transactions with their international number.
NPCI has authorized 14 banks to support this linkage, including AU Small Finance Bank, Axis Bank, Canara Bank, City Union Bank, DBS Bank, Equitas Small Finance Bank, Federal Bank, HDFC Bank, ICICI Bank, IDFC First Bank, IndusInd Bank, Punjab National Bank, and South Indian Bank.
As per NPCI’s 2023 guidelines, banks must ensure these accounts comply with Foreign Exchange Management Act (FEMA) and Reserve Bank of India (RBI) regulations before enabling UPI transactions. Beneficiary banks are also required to perform Anti-Money Laundering (AML) and Combating Financing of Terrorism (CFT) checks, along with standard UPI onboarding procedures.
This initiative comes in response to growing demand within the UPI ecosystem to support non-resident accounts with international numbers, allowing NRIs to benefit from the speed and ease of UPI-based transactions.
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