India and Singapore sign pact for instant flow of retail payments

RBI, MAS ink pact to link UPI and PayNow; may operationalise by July 2022

digital payments, online, mobile, smartphone, ncpi, upi, fintech

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India is the largest recipient of inbound remittances across the globe accounting for 15 per cent of the global share

Mumbai

5 min read Last Updated : Sep 15 2021 | 2:32 AM IST

Come July 2022, people in India and Singapore can transfer money to each other in an instant, a major step towards full currency convertibility for the Indian rupee.

The Reserve

Topics : payments Singapore RBI UPI Payment National Payments Corporation of India NPCI

First Published: Sep 14 2021 | 8:06 PM IST

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India and Singapore sign pact for instant flow of retail payments

RBI, MAS ink pact to link UPI and PayNow; may operationalise by July 2022

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