Mumbai: Nepal Clearing House (NCHL), in collaboration with NPCI International Payments Limited (NIPL), has launched a real-time cross-border remittance linkage connecting India’s Unified Payments Interface (UPI) with Nepal’s National Payments Interface (NPI).
The initiative enables secure, affordable, and instant person-to-person (P2P) fund transfers between India and Nepal, marking a significant milestone in digital financial connectivity between the two neighbouring countries.
The partnership between Nepal Clearing House and NPCI International allows Indian and Nepalese users in India, as well as Indian users in Nepal, to make seamless cross-border remittances using mobile numbers or Virtual Payment Addresses (VPAs), eliminating the need to share sensitive bank account information.
The service has gone live through select banks and is expected to expand to additional financial institutions in the coming months, improving accessibility and adoption across both countries.
The UPI-NPI linkage represents a major step toward strengthening financial inclusion while deepening economic and digital cooperation between India and Nepal.
It also aligns with the G20 vision of promoting accessible and affordable cross-border payment systems by directly connecting the fast-payment infrastructures of both nations.
The initiative further reinforces the longstanding social, cultural, and economic ties shared by India and Nepal.
Under the newly introduced system, Indian and Nepalese users can send money to Nepal using recipients’ mobile numbers or VPAs, while Indian users in Nepal can transfer funds to India using UPI IDs.
The simplified process enhances convenience while maintaining secure and transparent transactions.
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Commenting on the development, Ritesh Shukla, MD & CEO, NPCI International, said: “We are pleased to launch cross-border remittance link between India and Nepal in partnership with NCHL. This initiative emphasises our commitment to innovation that meet the evolving needs of global communities.
By creating a real-time, affordable, and secure corridor for cross-border remittances, we are not only simplifying the remittance process for families in both nations but also promoting financial inclusion.”
The Nepal Clearing House partnership ensures that remittance transactions are processed in real time, providing timely financial support to millions of families that rely on cross-border fund transfers.
By significantly reducing the costs associated with conventional remittance channels, the linkage offers a transparent and cost-effective alternative for individuals and households.
Neelesh Man Singh Pradhan, Chief Executive Officer, NCHL, said: “The successful launch of this linkage between Nepal and India is a testament to our close collaboration and commitment for making cross border fund transfer seamless, real-time and convenient.
As we embark together on a digital payments journey, we look forward to add more services and ensure inclusion for the millions of people and businesses at both the sides.”
The collaboration between NPCI International and Nepal Clearing House also strengthens the India-Nepal economic corridor by promoting secure, transparent, and traceable digital payment solutions.
