New Delhi, June 11 -- : India and Nepal launched a peer-to-peer (P2P) cross-border remittance mechanism to provide citizens of both countries with seamless mobile banking.
This system establishes a direct link between India's Unified Payments Interface (UPI) and Nepal's National Payments Interface (NPI).
It represents a major achievement in financial inclusion and fosters strong economic and digital ties between India and Nepal.
This UPI-NPI remittance linkage will eliminate the friction of physical currency exchange and also allow Nepali businesses to gain access to a massive, tech-savvy Indian visitor demographic, driving higher transaction volumes.
Now, local merchants will experience optimised cash management and lower overhead cost...