NPCI Adds 13 Banks to UPI–PayNow, Boosting India–Singapore Transfers

The National Payments Corporation of India (NPCI) has announced a significant extension of its UPI–PayNow linkage, integrating 13 additional Indian banks into the cross‑border payment network between India and Singapore. This expansion will allow customers from a total of 19 Indian banks to send or receive remittances in real time, further simplifying low‑cost international transfers. 

What This Means for Users

• Larger Bank Network: The newly added banks include prominent names such as Kotak Mahindra Bank, HDFC Bank, Bank of Baroda, Central Bank of India, and Punjab National Bank, among others.
• Simplified Remittances: Customers can now use familiar UPI apps (BHIM, PhonePe, Google Pay, etc.) or their banking apps to make person‑to‑person transfers directly between India and Singapore. 
• Real‑Time and Affordable: Transfers happen instantly, 24/7, making the process faster, cheaper, and more convenient than traditional methods.

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Background of UPI–PayNow Linkage

Launched in February 2023 as a collaborative effort between RBI and the Monetary Authority of Singapore, the original linkage connected six Indian banks with PayNow-enabled institutions in Singapore. Since then, NPCI International Payments Limited (NIPL)—the overseas arm of NPCI—has steadily expanded the service. This move marks the next major milestone in that expansion. 

Broader Strategy

NPCI is pursuing a broader strategy to globalise UPI and RuPay. With ongoing discussions across regions—Africa, Europe, Southeast Asia and South America—the objective is to roll out interoperable systems in more countries by 2027. Partnerships with nations like Cyprus, Malaysia, Nepal, and Oman are underway as part of this roadmap.

Why This Matters

• Boosts Financial Inclusion: The expanded network offers easier, affordable access to remittances for a wider user base, especially for overseas workers and families sending money abroad.
• Strengthens Digital Corridor: The larger digital payment corridor between India and Singapore supports trade, tourism and labour mobility.
• Sets a Template for Global Expansion: As UPI gains traction abroad, digital payment interoperability becomes scalable across borders, enhancing India’s fintech influence.

Go‑Live and Transaction Limits

The expanded linkage is expected to go live on July 17, 2025. Under the Liberalised Remittance Scheme (LRS), individuals can send up to ₹60,000 per day (or SGD 1,000) for purposes such as the maintenance of relatives or gifts. 

Conclusion

With 13 more banks joining the UPI–PayNow network, NPCI has broadened the scope of easy, real‑time remittances between India and Singapore. Launched in mid‑July 2025, this expansion strengthens financial inclusion and supports digital trade corridors. It also offers a proven model for NPCI’s future global rollout of UPI interoperability.