Real-time digital transfers begin between Maldives and India via Favara-UPI cross-border payment corridor
New Delhi [India], July 31 (ANI): The Favara-UPI cross-border payment corridor went live on Thursday between the Maldives and India following the integration of the Maldives Instant Payment System, ‘Favara’, with India’s Unified Payments Interface (UPI).
According to the Ministry of Finance, the Maldives Monetary Authority (MMA) announced the successful operationalization of the integration on July 30, 2026. The initiative marks a transformative milestone in cross-border digital financial connectivity and bilateral economic cooperation between the two nations.
