NPCI International adds 13 more banks in UPI-PayNow linkage to ease remittances
This will go live on July 17, 2025, and users in both countries can remit funds to a wider base, making the service more accessible and convenient.
The expanded network for remittances to India now includes 19 banks – Bank of Baroda, Bank of India, Canara Bank, Central Bank of India, Federal Bank, HDFC Bank, IDFC FIRST Bank, IndusInd Bank, Karur Vysya Bank, Kotak Mahindra Bank, Punjab National Bank, South Indian Bank, and UCO Bank alongside Axis Bank, DBS Bank India, ICICI Bank, Indian Bank, Indian Overseas Bank, and State Bank of India.
Recipients in India can receive remittances from Singapore in their accounts held with any of these 19 banks through their preferred UPI enabled apps such as BHIM, Google Pay and PhonePe, as well as bank apps.
Outward remittances from India to Singapore are available through Canara Bank, HDFC Bank and Karur Vysya Bank, along with ICICI Bank, Indian Bank, Indian Overseas Bank and State Bank of India.
In Singapore, customers of DBS SG and Liquid Group can avail this service.
The UPI-PayNow service was launched as a joint initiative between the Reserve Bank of India (RBI) and the Monetary Authority of Singapore (MAS).
It facilitates real-time cross-border fund transfers between individuals, where Indian users can receive funds via UPI ID and send funds to users in Singapore via their mobile number or Virtual Payment Address (VPAs).
This development is particularly beneficial for the Indian diaspora in Singapore, including migrant workers and students, bringing the ease of digital payments to everyday remittances.
Ritesh Shukla, MD & CEO, NPCI International, said, 'The expansion of the UPI-PayNow linkage marks a step forward in strengthening cross-border payment infrastructure. By enabling access to more banks in India, we are deepening the reach of real-time remittances and supporting greater financial connectivity between the two countries.'
'This brings added convenience to users through a seamless and trusted platform,' he said.
UPI-PayNow integration enables real-time cross-border remittance transactions, with funds reaching the recipient's bank account within seconds.
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