On January 10, the National Payments Corporation of India (NPCI) announced that soon Non-Resident External (NRE) and Non-Resident Ordinary (NRO) account holders with international mobile numbers linked to their accounts would be able to use Unified Payments Interface (UPI). Initially, the service will be available for NRIs from Singapore, Australia, Canada, Hong Kong, Oman, Qatar, the USA, Saudi Arabia, United Arab Emirates, and the United Kingdom.
Notably, NRIs have requested the Government of India to allow UPI services on their Indian bank accounts linked to their international mobile numbers on several occasions and the issue was raised many times on social media platforms. The decision came at a time when India is celebrating its 17th Pravasi Bharatiya Diwas, an event dedicated to the Indian Diaspora living abroad.
As per reports, NPCI has instructed members of the UPI ecosystem to allow NRE/NRO accounts with international mobile numbers to register on UPI. So far, the service was only available for accounts with Indian numbers (+91) linked to them.
Notably, NCPI has specifically instructed the member banks to ensure such accounts are allowed as per the regulations set by Foreign Exchange Management Act (FEMA). They have to follow the guidelines issued by the Reserve Bank of India (RBI) from time to time. That means there will be a set of regulations that NRIs have to follow while using the UPI ecosystem. NPCI has asked the members to comply with directions by April 30, 2023. The services may start in May this year, however, the exact dates have not been announced yet.
Read More at https://www.opindia.com/2023/01/nris-will-be-able-to-use-upi-with-international-phone-numbers-and-nre-nro-accounts/