UPI likely to extend to UAE, Mauritius, Indonesia
India’s Unified Payments Interface (UPI) is shortly to be connected to comparable networks in Indonesia, Mauritius, and the United Arab Emirates (UAE). This occurs a week after Singapore’s PayNow launched cross-border connection for real-time digital payments.
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The service would be made available to Singapore users through DBS-Singapore and Liquid Group, according to the Central Bank of India (RBI) (a non-bank financial institution).
Direct benefit transfers total Rs 5.5 trillion so far in FY23
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