India and Nepal have launched a new peer-to-peer cross-border remittance system linking India's UPI and Nepal’s National Payments Interface, or NPI. Operational from June 6, the service allows citizens of both countries to transfer money instantly through mobile banking apps and digital wallets.
The initiative aims to make travel and business transactions easier by reducing the need for cash exchange and foreign currency handling. The Finance Ministry said the linkage will strengthen financial inclusion, boost digital connectivity, and deepen economic ties between the two neighboring nations. The integration was developed jointly by NPCI International Payments Limited and Nepal Clearing House Limited.
