Adani Enterp. 2493.35↓-3.10(-0.12%)
Adani Ports 738.85↑4.80(0.65%)
Apollo Hospitals 4621.95↑22.80(0.50%)
Asian Paints 3192.95↑48.55(1.54%)
Axis Bank 914.85↓-22.60(-2.41%)
B P C L 363.50↑3.10(0.86%)
Bajaj Auto 4567.15↓-24.75(-0.54%)
Bajaj Finance 6989.85↓-15.95(-0.23%)
Bajaj Finserv 1451.05↓-14.80(-1.01%)
Bharti Airtel 849.90↑31.45(3.84%)
Britannia Inds. 4657.05↑83.80(1.83%)
Cipla 953.05↓-6.80(-0.71%)
Coal India 241.25↓-3.05(-1.25%)
Divi's Lab. 3443.60↓-14.40(-0.42%)
Dr Reddy's Labs 4501.05↓-17.85(-0.40%)
Eicher Motors 3671.95↓-6.40(-0.17%)
Grasim Inds 1718.35↓-6.80(-0.39%)
H D F C 2640.40↓-52.95(-1.97%)
HCL Technologies 1145.10↑9.25(0.81%)
HDFC Bank 1610.85↓-25.90(-1.58%)
HDFC Life Insur. 592.35↑7.20(1.23%)
Hero Motocorp 2759.90↓-19.25(-0.69%)
Hind. Unilever 2667.55↑11.00(0.41%)
Hindalco Inds. 405.90↓-7.20(-1.74%)
ICICI Bank 949.15↓-0.80(-0.08%)
IndusInd Bank 1286.60↓-6.65(-0.51%)
Infosys 1318.30↓-5.55(-0.42%)
ITC 445.50↓-4.40(-0.98%)
JSW Steel 696.30↓-8.30(-1.18%)
Kotak Mah. Bank 2014.35↑39.65(2.01%)
Larsen & Toubro 2205.65↓-5.15(-0.23%)
M & M 1319.00↓-9.45(-0.71%)
Maruti Suzuki 9367.70↓-15.65(-0.17%)
Nestle India 21673.10↑98.65(0.46%)
NTPC 173.85↓-2.95(-1.67%)
O N G C 154.90↓-3.95(-2.49%)
Power Grid Corpn 233.85↓-1.25(-0.53%)
Reliance Industr 2469.90↓-50.05(-1.99%)
SBI Life Insuran 1235.00↑19.10(1.57%)
St Bk of India 579.85↓-12.95(-2.18%)
Sun Pharma.Inds. 975.35↑15.75(1.64%)
Tata Consumer 798.65↑7.75(0.98%)
Tata Motors 526.30↑7.50(1.45%)
Tata Steel 105.80↓-1.25(-1.17%)
TCS 3289.50↓-26.70(-0.81%)
Tech Mahindra 1115.55↑17.15(1.56%)
Titan Company 2823.25↑20.75(0.74%)
UltraTech Cem. 7870.05↓-31.90(-0.40%)
UPL 685.10↓-3.95(-0.57%)
Wipro 403.65↑1.15(0.29%)

Decoded: What the India-Singapore real-time payment linkage is all about

India, Singapore cross-border retail payments & remittances amount to over $1 billion annually

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4 min read Last Updated : Feb 22 2023 | 4:46 PM IST

On Tuesday, India and Singapore launched a real-time linkage between their respective payment systems – Unified Payments Interface (UPI) and PayNow – to facilitate seamless cross-border payments.

The pact to link UPI and PayNow was signed back in September 2021 to enable users to make low-cost fund transfers between the two countries.

The linkage was kicked off by a live cross-border transaction between Reserve Bank of India Governor Shaktikanta Das and Monetary Authority of Singapore (MAS) Managing Director Ravi Menon using mobile phones.