Current Context: National Payments Corporation of India has partnered with HSBC India and J.P. Morgan Payments to enable real-time foreign exchange (FX) conversion and settlement for international UPI payments. The initiative was announced on 1 July 2026.
Key Highlights & Purpose
- NPCI has partnered with HSBC India and J.P. Morgan Payments for international UPI transactions.
- The partnership enables real-time foreign exchange (FX) conversion and settlement.
- Users will get real-time exchange rates and know the exact amount payable in Indian Rupees (INR).
- It ensures faster settlement, transparent pricing, and a smoother cross-border payment experience.
- The initiative aims to strengthen the global acceptance of UPI and make overseas payments more convenient for Indian users.
Question:
Q1:NPCI partnered with HSBC India and J.P. Morgan Payments to enable real-time settlement for which type of transactions?
a) NEFT transactions
b) RTGS transactions
c) International UPI payments
d) IMPS transactions
Answer: c) The partnership enables real-time FX conversion and settlement for international UPI payments.
