India, June 12 -- India and Nepal have formally launched a peer-to-peer (P2P) cross-border remittance system, marking a significant milestone in digital financial integration between the two neighbours.

The system, inaugurated on June 6, 2026, creates a direct linkage between India's Unified Payments Interface (UPI) and Nepal's National Payments Interface (NPI), enabling instant, secure, and real-time money transfers between citizens of both countries.

The integration allows users to send and receive funds seamlessly through mobile banking applications and digital wallets, removing traditional barriers associated with cross-border payments such as currency exchange delays and high transaction costs.

The UPI-NPI linkage has been develop...