UPI
If you’re an NRI looking for an easier and quicker way to send money to India, there’s some great news. The National Payments Corporation of India (NPCI) has introduced a new initiative allowing Non-Resident Indians (NRIs) to use UPI for instant money transfers to India. This means you can complete transactions from anywhere in the world with just a few taps on your smartphone.
For those with Non-Resident External (NRE) or Non-Resident Ordinary (NRO) accounts, this service offers a faster, more cost-effective option compared to traditional wire transfers, which can often be slow and come with high fees. With UPI, NRIs can transfer money instantly to India, making it ideal for quick and affordable transactions.
Currently, NRIs from certain countries can link their numbers to UPI. Here’s a list of eligible countries:
Several banks in India are participating in this initiative, enabling smooth transactions for NRIs. These banks include:
This new UPI service is a game changer for NRIs, allowing them to easily send money to India from abroad. With instant and affordable transfers, it provides an easy solution for NRIs to support their family, pay bills, or handle any urgent needs back home.