Synopsis
- New UPI Initiative: NRIs can now use UPI for faster money transfers to India through the NPCI.
- Instant Transactions: NRIs with NRE or NRO accounts can send money instantly using smartphones linked to international mobile numbers.
- Advantages: Provides quicker and cheaper options compared to traditional wire transfers.
- Participating Banks: Several banks support international mobile number linkage for UPI, making it easier for NRIs to access the service.
Non-Resident Indians (NRIs) can now enjoy a faster and more convenient way to send money to India. The National Payments Corporation of India (NPCI) has launched UPI services for NRIs who hold Non-Resident External (NRE) or Non-Resident Ordinary (NRO) accounts.
This development allows NRIs to make instant transactions using their smartphones with UPI linked to their international mobile numbers. This means that money transfers to India can be completed quickly and efficiently, compared to traditional wire transfer methods.
How to Link Your International Mobile Number to UPI?
- Link Your Mobile Number: Connect your international mobile number with your bank account.
- Download a UPI App: Choose a UPI-powered application that supports international mobile numbers and complete the onboarding process. (Note: Transactions will be subject to your bank’s terms and conditions.)
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Countries Whose Mobile Numbers Can Be Linked
NRIs from various countries can take advantage of this service. Here’s a list of countries whose mobile numbers are eligible for linking to UPI:
| Country Name | Code |
|---|---|
| Australia | +61 |
| Canada | +1 |
| France | +33 |
| Hong Kong | +852 |
| Malaysia | +60 |
| Oman | +968 |
| Qatar | +974 |
| Saudi Arabia | +966 |
| Singapore | +65 |
| United Arab Emirates | +971 |
| United Kingdom | +44 |
| United States of America | +1 |
Banks That Support Linking of International Mobile Numbers
Several banks in India have embraced this initiative and support the linkage of international mobile numbers for UPI transactions. Here’s a list of banks that are part of this program:
- IndusInd Bank
- HDFC Bank
- City Union Bank
- Axis Bank
- South Indian Bank
- Equitas Small Finance Bank
- Federal Bank
- IDFC First Bank
- Canara Bank
- DBS Bank Ltd
- Punjab National Bank
- ICICI Bank
The introduction of UPI services for Non-Resident Indians is a game changer for sending money to India. It allows NRIs to make quick and affordable transfers by simply linking their international mobile numbers to UPI. This means they can easily manage their finances and send money from anywhere in the world. With many banks on board, using UPI services is now simpler than ever.
