India to set up remittance link with Bahrain
Bilateral corridor will facilitate instant payments by Gulf kingdom’s large Indian community
The National Payment Corporation of India (NPCI) has formed a partnership with Benefit, a fintech from Bahrain, to enable consumers in both countries to send real-time cross-border remittances.
The linkage, announced on November 10, will connect India’s Unified Payments Interface with Bahrain’s Electronic Fund Transfer System through the Fawri+ service.
The NPCI said Bahrain’s Indian community amounted to almost a third of the country’s population, and the partnership would establish a “strategic
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