New FAQ Page 2 - RBI - Reserve Bank of India
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UPI-PayNow Linkage
In the UPI-PayNow linkage transactions, only person to person (P2P) remittances towards the purpose of “Maintenance of Relatives Abroad” & “Gift” under the Liberalised Remittance Scheme (LRS) are allowed, and the prescribed LRS limits would be applicable.
Yes, going forward, the UPI-PayNow linkage can be expected to cover more banks and financial institutions in India.
The participating banks will be rolling-out an update in their respective UPI apps in a phased manner and the customers will have to update their UPI app so as to enable global remittances feature.
These FAQs are issued by the Reserve Bank of India for information and general guidance purposes only. The Reserve Bank will not be held responsible for actions taken and / or decisions made on the basis of the same.
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Page Last Updated on: December 11, 2022
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