National Payments Corporation of India (NPCI) partners with HSBC India and J.P. Morgan Payments for real-time FX in overseas UPI payments

Exam-focused facts from the 3 July 2026 current affairs briefing.

Key facts

The National Payments Corporation of India (NPCI) signed separate partnerships with HSBC India and J.P. Morgan Payments to enable real-time foreign exchange (FX) settlement for international Unified Payments Interface (UPI) transactions.
HSBC India and J.P. Morgan Payments will provide real-time FX rates through direct Application Programming Interface (API) integration with NPCI.
The integration allows users making UPI payments outside India to view the exact amount in Indian rupees at the point of transaction before authorising the payment.
Overseas merchants and financial institutions will continue to receive settlement in their local currencies.
UPI is currently live in nine countries: Singapore, the United Arab Emirates, Nepal, Bhutan, Mauritius, France, Sri Lanka, Qatar, and Cambodia.