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NRIs from these countries can use UPI with their international mobile numbers soon – UPI to be available for NRIs soon


NRIs from these countries can use UPI with their international mobile numbers soon – UPI to be available for NRIs soon

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NRIs from these countries can use UPI with their international mobile numbers soon – UPI to be available for NRIs soon | The Economic Times

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UPI to be available for NRIs soon

Non-resident Indians (NRIs) with NRE/NRO accounts from select countries will soon be able to use Unified Payments Interface (UPI) with their international mobile numbers.

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NRIs can use international numbers to use UPI

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NRIs can use international numbers to use UPI

In a circular released on January 10, 2023, the National Payments Corporation of India (NPCI) has allowed the UPI platforms to onboard non-resident accountholders (NRE/NRO accounts) from ten countries with certain conditions.

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These countries will support the new facility

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These countries will support the new facility

To begin with, the NPCI will enable transactions from mobile numbers having country codes of Singapore, Australia, Canada, Hong Kong, Oman, Qatar, USA, Saudi Arabia, United Arab Emirates, and the United Kingdom, along with the current domestic country code, as per an NPCI circular.

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Terms and conditions
To provide UPI services to non-resident account types like NRE/NRO accounts having international mobile numbers subject to the following conditions:

1) Member banks must ensure NRE or NRO accounts are only allowed as per the extant FEMA (Foreign Exchange Management Act) regulations and adherence to the guidelines/instructions issued by the concerned regulatory departments of the Reserve Bank of India (RBI) from time to time.

2) All necessary anti-money laundering/ combating of financing of terrorism checks and compliance validation as per the rules have to be ensured by the remitter and beneficiary banks.

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April 30 is the deadline

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April 30 is the deadline

“All the members are hereby advised to comply with the above directives by 30th April 2023,” NPCI said. So this facility is expected to be available for the NRIs by April 30, 2023, said NPCI.

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Good news for NRIs
With this new facility, Indians living abroad will be able to experience UPI transactions seamlessly with their international numbers, said experts. Do note that NRIs must have NRE or NRO accounts to access UPI transactions with their international mobile numbers, according to NPCI.

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