This linkage will connect India's UPI with Bahrain's EFTS  allowing users in both countries to send and receive money instantly

NPCI International Payments Limited (NIPL), the international arm of the National Payments Corporation of India (NPCI), on Monday announced a partnership with BENEFIT, Bahrain's leading fintech and electronic financial transactions company, to enable real-time cross-border remittances between India and Bahrain. 

 This linkage will connect India's Unified Payments Interface (UPI) with Bahrain's Electronic Fund Transfer System (EFTS), specifically, Fawri+ service, allowing users in both countries to send and receive money instantly and securely, a joint statement said. The collaboration, established under the guidance of the Reserve Bank of India (RBI) and the Central Bank of Bahrain (CBB), represents a key step in advancing cross-border payment connectivity between the two nations, it said. 

It will enable residents to experience faster, more efficient, and cost-effective remittances, reflecting the shared vision to enhance digital financial inclusion and modernise cross-border transaction frameworks, it said.  By linking UPI and Fawri+ service, the initiative aims to establish a strategic remittance corridor between India and Bahrain, enhancing convenience for the large Indian community in Bahrain, which constitutes nearly 30% of the country's population.      -PTI