In a full-size bounce forward for international remittances, sending money from singapore to india just were given faster, less difficult, and greater comfortable.
The national payments enterprise of india (NPCI) has announced that 13 extra indian banks were integrated into the UPI-paynow pass-border charge carrier. With this enlargement, a complete of nineteen banks in india now assist the seamless switch of finances between india and singapore the use of actual-time era.
This flow marks a prime milestone in wallet PLATFORM' target='_blank' title='digital-Latest Updates, Photos, Videos are a click away, CLICK NOW'>digital financial connectivity between the 2 nations and is predicted to decorate consumer enjoy for millions who depend upon go-border remittance offerings, in particular indian diaspora living and working in Singapore.
What's UPI-paynow?
The UPI-paynow service is a first-of-its-kind real-time cross-border charge gadget advanced thru a collaborative initiative among the bank OF INDIA' target='_blank' title='reserve bank of india-Latest Updates, Photos, Videos are a click away, CLICK NOW'>reserve bank of india (RBI) and the monetary Authority of singapore (MAS). The system lets in users in india and singapore to send and receive budget right away the usage of their cell numbers or wallet PLATFORM' target='_blank' title='digital-Latest Updates, Photos, Videos are a click away, CLICK NOW'>digital payment Addresses (vpas). It's miles a cloud-based infrastructure, pioneering seamless worldwide digital payments and casting off conventional delays and excessive transaction expenses associated with international cash transfers.
Newly added Banks assisting UPI-paynow
The thirteen newly included indian banks are:
Bank of Baroda
Financial institution of India
Canara bank
Relevant bank of India
Federal bank
HDFC bank
IDFC FIRST financial institution
Indusind bank
Karur Vysya bank
Kotak mahindra bank
Punjab country wide bank
South indian bank
UCO bank
Previously related banks include:
Axis bank
DBS bank India
ICICI bank
Indian bank
Indian remote places bank
Kingdom financial institution of india (SBI)
With those additions, the full number of indian banks supporting the UPI-paynow provider has now reached 19.
What NPCI Says
In keeping with the click release issued by means of NPCI worldwide payments restrained (NIPL), the international arm of NPCI, this development will significantly strengthen the actual-time price infrastructure between india and Singapore. The newly added banks became operational on July 17, 2025, making the carrier to be had to a broader populace of customers. The machine is specifically useful for low-price, excessive-frequency transactions and ensures comfy and immediate cash transfers at minimum fees.
How This advantages users
Receiving money in India:
Every person with a bank account in one of the 19 taking part indian banks can acquire price range via famous UPI apps like BHIM, google Pay, phonepe, or via their respective financial institution apps. The process is brief, reliable, and does now not require any complex financial institution information - only a cell quantity or VPA is enough.
Sending cash from india to Singapore:
At gift, the capability to ship money from india to singapore through UPI is supported via the subsequent banks:
Canara financial institution
HDFC bank
Karur Vysya bank
ICICI bank
Indian financial institution
Indian distant places bank
Nation financial institution of india (SBI)
Sending cash from singapore to India:
Users in singapore can use DBS singapore or Liquid organization systems to switch money without delay to india using the paynow-UPI integration.
A game Changer for cross-Border bills
This UPI-paynow integration is more than just a technical improve - it's a financial revolution. It empowers people, small companies, and households who depend upon international remittances, decreasing friction, time, and transaction prices. It additionally symbolizes the developing collaboration among financial establishments across borders, paving the manner for extra such integrations within the future.
As wallet PLATFORM' target='_blank' title='digital-Latest Updates, Photos, Videos are a click away, CLICK NOW'>digital bills maintain to conform globally, india and singapore are leading the fee with a scalable, consumer-pleasant, and pretty green worldwide charge bridge - one which sets a benchmark for different nations to follow.
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