Reserve Bank of India plans to take payments system to 20 countries

Peruvian central bank signs agreement to use India’s Unified Payment Interface

FinTech RegTech 2022 Data Management

The Reserve Bank of India has said it intends to extend its instant payments system to 20 countries in the next five years.

In its annual report, published on May 30, the RBI said work towards taking its Unified Payment Interface (UPI) to 20 countries will start this year, with the project scheduled for completion by 2029.

The RBI will work with a subsidiary of the National Payments Corporation of India (NPCI), which operates retail payments and settlement systems.

On June 5, the Central Bank of

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