Non-resident account types like NRE/NRO that have international mobile numbers will now be allowed to transact with UPI, according to a notice by the National Payments Corporation of India (NPCI).
Transactions from mobile numbers of ten countries will be enabled to begin with — Singapore, Australia, Canada, Hong Kong, Oman, Qatar, the United States of America, Saudi Arabia, United Arab Emirates, and the United Kingdom.
These NRI accounts will be permitted to onboard and transact in UPI, provided the member banks ensure such accounts are only allowed as per the extant FEMA regulations and they adhere to the guidelines issued by the Reserve Bank of India.
The NPCI noted that all onboarding and transaction level checks — such as cooling period and risk rules — with be applicable as per existing UPI guidelines.
The notice said there had been customer demand in the ecosystem to enable UPI for their NR accounts linked to international numbers.
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