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India’s Unified Payment Interface (UPI) has made its official debut in Sri Lanka and Mauritius, with Nepal reportedly next on the list as India’s real-time payments system continues its international expansion.
In a major development aimed at bringing our economies closer, Nepal and India have expedited the process to establish a separate mechanism for an electronic payment system between the two countries. The agreement signed between the National Payments Interface of Nepal and the Unified Payment Interface of India, as agreed upon by the two governments, is a promising development.
KATHMANDU, Feb 16: The authorities concerned of Nepal and India have stepped up measures to develop a separate mechanism for an electronic payment system between the two countries. This has been agreed upon at the government level.
RBI and Nepal Rastra Bank ink Terms of Reference to integrate UPI and NPI for cross-border remittances, enhancing financial ties between India and Nepal.