Nepal has implemented a live linkage between its National Payment Interface (NPI) and India's Unified Payments Interface (UPI) to facilitate instantaneous cross-border remittances.
The Government of Nepal, through its central bank and associated financial institutions, has officially activated a real-time payment system linking the National Payment Interface (NPI) with India’s Unified Payments Interface (UPI). This integration allows Nepalese expatriates, many of whom work abroad including in countries such as India and Greece, to send and receive cross-border payments instantly and securely. The initiative aims to enhance the efficiency of remittance transfers, a vital source of income for many Nepalese families, reducing transaction costs and processing times significantly. Official sources confirm this development is part of broader efforts to modernize Nepal’s financial infrastructure and to support overseas workers by simplifying money transfers. This system’s activation is expected to further stimulate financial inclusion and contribute to Nepal’s economic development.
Sources referenced:
- https://news.google.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?oc=5