India, Nepal launch real-time UPI-NPI cross-border remittance system

India and Nepal have operationalised a peer-to-peer cross-border remittance mechanism linking India’s Unified Payments Interface (UPI) with Nepal’s National Payments Interface (NPI), enabling instant money transfers between users in both countries.

Launched on June 6, the system allows citizens to send and receive funds in real time through mobile banking apps and digital wallets, reducing reliance on cash and simplifying cross-border transactions.

The Finance Ministry said the UPI-NPI linkage marks a significant step toward greater financial inclusion and deeper digital and economic integration between the two neighbours. The initiative was implemented through collaboration between NPCI International Payments Limited (NIPL) and Nepal Clearing House Limited (NCHL).

Officials said the platform will benefit travellers by eliminating the need for physical currency exchange and could also boost local businesses in Nepal by making payments easier for Indian visitors.

With Nepal now integrated into the network, UPI is accepted in nine countries, expanding the reach of India’s digital payments ecosystem and facilitating seamless transactions for Indian users abroad.