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TMI BlogForeign nationals and NRIs visiting India can make payments using Unified Payments Interface (UPI) while in IndiaX X X X Extracts X X X X X X X X Extracts X X X X ..... Foreign nationals and NRIs visiting India can make payments using Unified Payments Interface (UPI) while in India - News and Press Release Dated:- 1-8-2023 - News - The Reserve Bank of India (RBI) has, vide circular no. RBI/2022- 23/176CO.DPSS.POLC.No.S 1907/02.14.006/2022-23 dated 10.02.2023, allowed access to Unified Payments Interface (UPI) to foreign nationals and NRIs visiting India by enab ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ling them to make payments using UPI while they are in India. RBI has updated its Master Directions on Prepaid Payment Instruments (PPIs) accordingly. This was stated by Union Minister for State for Finance Dr Bhagwat Kisanrao Karad in a written reply to a question in Lok Sabha. The Minister further stated that this facility has been extended to travellers from G-20 countries at select internat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ional airports (Bengaluru, Mumbai and New Delhi) for their merchant payments. Further, a provision has also been made by RBI to provide UPI access to NRIs who have international mobile numbers linked to their NRE / NRO accounts. National Payments Corporation of India (NPCI) has apprised that the said facility is allowed for 10 countries namely Singapore, Australia, Canada, Hong Kong, Oman, Qatar, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... USA, Saudi Arabia, UAE and United Kingdom. The Volume and Value-wise UPI transactions since 2018 is as under: Year Volume (in Crore) Value (in lakh Crore) 2018 374.63 5.86 2019 1078.75 18.37 2020 1 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 888.09 33.88 2021 3873.31 71.58 2022 7403.97 125.94 2023* 5183.85 83.20 * Note- UPI data for CY-2023 spans from January 2023 to June 2023. Source:RBI Giving more information, the Minister stated that the U ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... PI acceptance in foreign countries started in 2022 only. Further, NPCI International Payments Limited (NIPL), a wholly owned subsidiary of National Payments Corporation of India (NPCI) is devoted for internationalisation of UPI. RBI has been facilitating engagements for the expansion of UPI in countries which have potential for collaboration, the Minister stated. - News - Press release - PIB Ta ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... x Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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