UPI Payment Facility: Indians living in other countries are sending money to India through digital platforms like UPI. The amazing digital revolution in our country has led to the adoption of a unified payment interface (UPI) by 10 countries in the world.
The National Payments Corporation of India (NPCI) is responsible for promoting and implementing UPI for payments and transactions in India. “The National Payments Corporation of India (NPCI) is also linking accounts from 10 countries that use international mobile numbers with the UPI access provided to Indian users. This is being done through accounts linked with the UPI service in Singapore, Australia, Canada, Hong Kong, Oman, Qatar, America, Saudi Arabia, United Arab Emirates and United Kingdom.”
“In NPCI, there are 382 banks. NPCI has announced that NRI accounts in these banks will be able to use UPI facility from April 30th. Nepal, Bhutan, and Singapore also have UPI facility. NPCI is working to connect other payment networks to UPI. In addition, Indian firms in the Foreign Contractors category have been allowed to bring in up to 100 billion dollars during the 2022 fiscal year.”