Soon NRIs can use UPI with their international mobile numbers
January 12, 2023 - PatialaPolitics
Soon NRIs can use UPI with their international mobile numbers
Non Resident Indians (NRIs) will soon be able to make payments in Unified Payments Interface (UPI) without having to get an Indian mobile number. The National Payments Corporation of India (NPCI) has allowed NRIs in 10 countries to digitally transfer funds using the UPI platform from NRE/NRO accounts.
Indians living in ten countries can now make payments through UPI
Indians living abroad comprise the world’s largest overseas diaspora. Remittances made by this section amounted to around $100 billion in 2022, up 12% from the previous year, finance minister Nirmala Sitharaman said yesterday.
The UPI system, launched in 2016, gained massive popularity in India during the covid-19 pandemic. In 2022, up to 74 billion transactions amounting to $1.53 trillion were recorded on NPCI.