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UPI-PayNow Linkage

Account-holders of the participating banks and financial institutions in India and Singapore can do the cross-border remittance transactions through the UPI-PayNow linkage.

Currently, participating banks in India for receiving remittances through the UPI-PayNow linkage are:

  • Axis Bank

  • DBS Bank India

  • ICICI Bank

  • Indian Bank

  • Indian Overseas Bank

  • State Bank of India

Banks in India presently enabled for sending remittances through the UPI-PayNow linkage are:

  • ICICI Bank

  • Indian Bank

  • Indian Overseas Bank

  • State Bank of India

The list of banks in India, their UPI handles and platforms for receiving and sending remittances are tabulated as following:

Receiving Remittances Sending Remittances
Banks UPI Handles Enabled Featuring Apps Banks Apps / Internet banking
Axis Bank @axisbank Axis Pay ICICI Bank Internet banking
DBS Bank India @dbs DBS Digibank Indian Bank Mobile App (IndOASIS)
ICICI Bank @icici ICICI iMobile Indian Overseas Bank Internet banking
Indian Bank @indianbank IndOASIS
Indian Overseas Bank @iob BHIM IOB Pay State Bank of India Mobile App (BHIM SBI Pay)
State Bank of India @sbi BHIM SBI Pay

The entities from Singapore enabled for the UPI-PayNow linkage and their VPAs are as follows:

Banks / Non-bank VPA Handles Enabled
DBS Bank Singapore Registered mobile number
Liquid Group (Non-Bank Financial Institution) Registered mobile number followed by XNAP
(e.g., 123456789XNAP)
Presently, the UPI ID registered with the same bank where account is held can only be used.
There is a daily transaction limit of ₹60,000 in a day (equivalent to around SGD 1,000) for undertaking cross-border remittance transactions through the UPI-PayNow linkage.
Presently, only Person to Person (P2P) remittances for the purposes of “Maintenance of Relatives Abroad” & “Gift” are allowed.
Yes, there is an opt in / opt out feature in the apps of the participating banks in India for receiving the remittances from Singapore.
The transactions through UPI-PayNow linkage can be carried out with ease similar to how the domestic transactions through UPI or PayNow take place, and the transaction can be completed within a minute.
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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