India is in talks with Gulf countries including Bahrain and Saudi Arabia to expand its Unified Payments Interface service. While discussions are at an early stage, several countries have shown interest in taking the talks forward. According to media reports, the National Payments Corporation of India is spearheading talks with the Gulf countries to set up a bank-to-bank transfer system for cross-border remittances as millions of Indians live and work in the region. According to a report by Livemint.com, on the basis of initial talks, many countries have shown interest in furthering the talks regarding the expansion of UPI. The same facility can now be extended to countries where Indians have a sizeable presence.

Source: Mint June 13, 2023 21:00 UTC