India, Nepal launch cross-border remittance mechanism to strengthen bilateral financial connectivity
In a major boost to digital financial connectivity and neighbourhood cooperation, India and Nepal officially launched a peer-to-peer (P2P) cross-border remittance mechanism on June 6.
The newly operationalised system establishes a direct link between India’s Unified Payments Interface (UPI) and Nepal’s National Payments Interface (NPI). This integration enables citizens of both nations to make seamless, real-time, and secure instant money transfers directly via mobile banking applications and digital wallets.
