RBI Begins UPI-TIPS Integration for Cross-Border Payments
The Reserve Bank of India (RBI) has initiated the implementation of the UPI-TIPS integration in collaboration with NPCI International Payments Ltd. This integration aims to facilitate cross-border remittances between India and the eurozone, benefiting users on both sides. The TARGET Instant Payment Settlement (TIPS) system is operated by the European Central Bank and eurozone central banks. The RBI stated that the UPI-TIPS link will reduce transfer costs and settlement friction for millions of users. This initiative aligns with the G20 Roadmap for enhancing cross-border payments, focusing on making remittances cheaper and more efficient. The RBI has been actively pursuing interlinking UPI with other fast payment systems globally, expanding India's digital payment infrastructure.
Published 13 days ago • 21 Nov 2025, 10:07 PM IST