Travellers from G20 countries can use UPI for payments: RBI Governor

The Reserve Bank on February 8 hiked key benchmark policy rate by 25 basis points to 6.5%, citing sticky core inflation

Updated - February 08, 2023 12:24 pm IST

Published - February 08, 2023 11:13 am IST - MUMBAI

Reserve Bank of India (RBI) Governor Shaktikanta Das speaks during a press conference announcing the Central bank’s monetary policy statement, in Mumbai on February 8, 2023.

Reserve Bank of India (RBI) Governor Shaktikanta Das speaks during a press conference announcing the Central bank’s monetary policy statement, in Mumbai on February 8, 2023. | Photo Credit: PTI

To further expand the scope of Unified Payments Interface (UPI), which has become a ubiquitous payment instrument for retail electronic payments in India, the Reserve Bank of India (RBI) has decided to expand its use for inbound travellers to India. 

“An enhancement has recently been made to provide UPI access to non-resident Indians who have international mobile numbers linked to their NRE / NRO accounts,” RBI said in additional measures announced on Wednesday. 

Also Read | What is Unified Payment Interface?

“It is now proposed to permit all inbound travellers to India also to access UPI for their merchant payments (P2M) while they are in the country. To start with, this facility will be extended to travellers from the G20 countries, arriving at select international airports,” RBI Governor Shaktikanta Das said. 

Also Read | RBI to introduce new functionality for UPI payments, allowing multiple debits

Going forward, this facility will be enabled across all other entry points in the country. Necessary operational instructions will be issued shortly, he said. 

He also added that QR code-based coin vending machines will be installed on a pilot basis to ease the pressure on bank notes and for easy availability of coins to members of the general public.

0 / 0
Sign in to unlock member-only benefits!
  • Access 10 free stories every month
  • Save stories to read later
  • Access to comment on every story
  • Sign-up/manage your newsletter subscriptions with a single click
  • Get notified by email for early access to discounts & offers on our products
Sign in

Comments

Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

We have migrated to a new commenting platform. If you are already a registered user of The Hindu and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.