New Delhi, June 11 -- India and Nepal have launched a peer-to-peer (P2P) cross-border remittance mechanism, enabling real-time money transfers through the integration of India's Unified Payments Interface (UPI) and Nepal's National Payments Interface (NPI).

The system allows users in both countries to make secure and instant cross-border transfers directly through mobile banking applications and digital wallets. The linkage has been developed through collaboration between NPCI International Payments Limited (NIPL) and Nepal Clearing House Limited (NCHL).

The initiative is expected to strengthen financial connectivity between the two countries by facilitating faster and more accessible cross-border payments. It also supports greater digi...