Indians residing in these ten nations will soon be able to make UPI payments

Photo by David Dvořáček on Unsplash

Indians residing in these ten nations will soon be able to make UPI payments

Soon, Indians living abroad will be able to use their foreign mobile numbers to use the Unified Payments Interface (UPI). In addition, Non-Resident Indians (NRIs) in ten countries can use UPI facilities without relying on their Indian phone number for payments.

Those ten nations are Singapore, the US, Australia, Canada, Hong Kong, Oman, Qatar, Saudi Arabia, UAE, and the UK. The National Payments Corporation of India claims that accounts like NRE/NRO, which stands for (Non-Resident External and Non-Resident Ordinary) may conduct UPI transactions utilizing overseas mobile numbers. According to the Payments Corporation, partner banks have until April 30 to follow the rules.

While an NRO account assists NRIs in managing revenue received in India, an NRE account enables them to transfer overseas earnings to India.

Beneficial For International Students And NRI Families

A cabinet committee led by Prime Minister Narendra Modi authorized an initiative, i.e., a scheme to promote RuPay debit cards and BHIM-UPI payments, budgeted at 2,600 crores. According to authorities, the significant UPI move will benefit local enterprises, family members living abroad, and foreign students.

by - Mehmood Azim