NIPL adds 13 banks to UPI-PayNow linkage to boost India-Singapore remittances

Current Context: On July 17, 2025, NPCI International Payments Ltd (NIPL) added 13 Indian banks to the UPI-PayNow real-time payment corridor, expanding the total to 19 banks.

Key Highlights:

• Enables instant cross-border remittances between India and Singapore using mobile numbers or VPAs.
• Newly added banks include HDFC Bank, Kotak Mahindra Bank, PNB, UCO Bank, among others.
• Funds can be received via UPI apps like BHIM, Google Pay, PhonePe, or bank apps.
• Especially beneficial for migrant workers and students in Singapore, improving access and affordability.

Question:

Q.1 On July 17, 2025, how many Indian banks were added to the UPI-PayNow real-time payment corridor by NPCI International Payments Ltd (NIPL)?
a) 10
b) 13
c) 15
d) 19

Answer: b) On July 17, 2025, NIPL added 13 Indian banks to the existing UPI-PayNow corridor. This expanded the total number of participating Indian banks to 19.