RBI to link UPI, Asean payment systems


MUMBAI: RBI has joined Project Nexus, an initiative to allow immediate cross-border retail funds by linking home Fast Payment Systems.
Nexus will initially interlink India’s UPI to the FPS of Malaysia, the Philippines, Singapore, and Thailand by subsequent yr. Indonesia is about to be a part of the platform sooner or later.
“In my view, the greatest advantage of Project Nexus will be to make cross-border payments much faster and less costly.This is a precursor to greater international cooperation among countries to enable faster cross-border remittances at a lower cost,” mentioned RBI governor Shaktikanta Das on the signing of the settlement on Sunday.

Nilesh Desai
Nilesh Desaihttps://www.TheNileshDesai.com
The Hindu Patrika is founded in 2016 by Mr. Nilesh Desai. This website is providing news and information mainly related to Hinduism. We appreciate if you send News, information or suggestion.


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