NPCI International Payments Ltd. (NIPL) and Nepal Clearing House Ltd. (NCHL) launch UPI-NPI remittance corridor

Exam-focused facts from the 12 June 2026 current affairs briefing.

Key facts

NPCI International Payments Ltd. (NIPL), the international arm of the National Payments Corporation of India (NPCI), partnered with Nepal Clearing House Ltd. (NCHL) to launch a cross-border remittance linkage.
The linkage connects India's Unified Payments Interface (UPI) with Nepal's National Payments Interface (NPI).
The service enables real-time, low-cost person-to-person (P2P) fund transfers between India and Nepal.
Users in India can send money to Nepal using mobile numbers or virtual payment addresses (VPAs), while Indian users in Nepal can transfer funds to India using UPI IDs.
The facility is currently live through select banks and aims to eliminate the need to share bank account details for cross-border remittances.