New Delhi, June 11 -- India and Nepal have launched a cross-border peer-to-peer (P2P) remittance link by joining India's Unified Payments Interface (UPI) with Nepal's National Payments Interface (NPI), marking a significant step in strengthening digital financial connectivity and economic integration between the two countries.

The system became operational on June 6 and was announced on Thursday by India's finance ministry. It will allow citizens of both countries to make seamless, secure and real-time transfers and payments using familiar mobile banking applications, UPI apps, and digital wallets.

NPCI International Payments Ltd (NIPL), the international arm of India's NPCI, partnered with Nepal Clearing House Ltd (NCHL) to implement t...