Now, Travellers From These Countries Can Make UPI Payments In India
Visitors to India will have access to UPI or Unified Payments Interface (UPI) to shop in the country, Reserve Bank of India (RBI) chief Shaktikanta Das announced today.
Only visitors from G-20 countries will be allowed to make UPI payments to start with, and only those arriving at certain airports.
"UPI has become hugely popular for retail digital payments in India. It is now proposed to permit all inbound travellers to India to use UPI for their merchant payments (P2M) while they are in the country. To begin with, this facility will be extended to travellers from G-20 countries arriving at select international airports," Mr Das said.
With India holding G-20 presidency till November, foreign delegates have been invited to multiple events in the country.
UPI is a popular instrument for electronic payments in India. In the past six years, there has been a massive jump in UPI transactions. In December, UPI transactions touched a record high of Rs 12.82 lakh crore.
Last month, the government announced that Indians in other countries would be able to access UPI using their international mobile numbers.
Indians overseas will be able to make UPI payments by April 30.
Non Resident Indians (NRIs) in 10 countries can access UPI services for transactions without having to depend on their India phone number. The countries are Singapore, US, Australia, Canada, Hong Kong, Oman, Qatar, Saudi Arabia, UAE and UK.
According to the National Payments Corporation of India, accounts like NRE/NRO (Non Resident External and Non resident Ordinary) with international mobile numbers can transact using UPI.
An NRE account helps NRIs transfer foreign earnings to India, while an NRO account helps them manage the income earned in India.
-
India's Troika Of Good Luck | Joining The Dots
A weaker Trump, a cooling AI trade and resilient earnings have put Indian markets back in favour. Rising inflation could spoil the party.
-
Talking Points This Week: Leadership Shock At Nvidia, Earnings Strength, And The Fog Over Hormuz
The Anthropic IPO pricing and first trading day, Nvidia's upcoming earnings, and any fresh signals from Iran will set the tone for the following week.
-
Signature Play: The Classic Cocktail Is Dead. Or Is It?
Classic cocktails are disappearing from India's cocktail menus. But they're still being ordered, taught to bartenders and borrowed from. So, who's really having the last drink?
-
A New Samvat Wishlist: Inclusive Prosperity And Human Development
India has strengthened its economic foundations through infrastructure, digital access and enterprise. Its next growth chapter must deepen productivity, create better livelihoods and widen participation in prosperity.
-
Love, Sex Aur Dhokha: The Audacious Plot To Spy On Jensen Huang
A Taipei dinner, a Singapore chip buyer and a suspected Chinese asset: inside the alleged spy operation that got close to NVIDIA's Jensen Huang.
-
Ten Things I Learnt This Samvat
Patience can be a trap. Cheap stocks can stay cheap. Leverage can wipe you out. What did Samvat 2082 teach us? Niraj Shah writes on 10 lessons from the year gone by.
-
Talking Points This Week: Tech Nerves, FII Buying, And A Faraway Banking Shock
The global markets are not shining this Diwali. The exception in the large markets is, India.
-
Midterm Rally Lasted A Day. The Hard Reality Of A Divided US May Last Two Years | Opinion
Between a contested AI boom, a debt ceiling that arrives in 2027 and a president with every incentive to act alone, the next two years may prove more volatile than the first day's rally suggests.
-
Blue Wave Will Derail the AI Trade but Won't Dismantle the AI Era | Unhedged Position
The Democrats' sweep of the US Congress will see politics collide with economic forces both over the long and short term.
-
It's Time To Take The GST Council's Bet On Trust Global
Payment records can prove India's services exports, and clear, proportionate rules can bring foreign digital sellers into the tax net.