India, June 11 -- India and Nepal have launched a peer-to-peer (P2P) cross-border remittance facility, marking a significant step towards deeper financial and digital integration between the two neighbouring countries.
The newly introduced system connects India's Unified Payments Interface (UPI) with Nepal's National Payments Interface (NPI), enabling users to transfer money instantly, securely, and directly through mobile banking applications and digital wallets.
The initiative is expected to simplify cross-border payments, improve financial inclusion, and strengthen economic ties by providing a faster and more convenient alternative to traditional remittance channels. The linkage has been implemented through a collaboration between NPCI...