Read how the NRIs can benefit from paying by UPI in foreign countries
They can use their global mobile numbers to start UPI by merging them with their NRE or NRO accounts.
Earlier, NRIs required a valid Indian mobile number to put up a UPI ID for any application. Yet, with the Indian government’s measures to make UPI available worldwide, NRIs can now use their global mobile numbers for UPI if they have NRE or NRO bank accounts.
NRIs with mobile numbers from nations like Singapore, Australia, Canada, Hong Kong, Oman, Qatar, the US, Saudi Arabia, United Arab Emirates, and the United Kingdom can use UPI without an Indian cell number.
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This eradicates the cost of keeping an Indian mobile number and lets them use online payments modes seamlessly with their global numbers.
NRIs can use their global mobile numbers to start online payment by merging them with their NRE or NRO accounts. The NRE or NRO accounts should be KYC obliging, and compliance with rules and guidelines set by the Reserve Bank of India (RBI) is the duty of the respective banks.
Banks must ensure compliance with FEMA regulations, conduct required anti-money laundering (AML) and fighting the financing of terrorism (CFT) checks, and validate adherence with regulatory guidelines at the remitter/beneficiary bank level.
Source – BT
