Nepal Clearing House Ltd. (NCHL) has connected Nepal’s National Payment Interface (NPI) with India’s Unified Payments Interface (UPI), enabling real-time, 24/7 person-to-person remittances between the two countries. The service officially launched on June 9, 2026, allowing users to transfer funds using Virtual Payment Addresses (VPAs) without sharing bank account details, according to medianama.com.
This integration follows agreements signed in 2023 between India’s National Payments Corporation (NPCI) and NCHL and a cross-border payments framework established by the Reserve Bank of India and Nepal Rastra Bank in 2024. Users initiate transfers via mobile banking apps or connectIPS by selecting Cross-Border Fund Transfer, entering the recipient’s VPA and amount in Nepali Rupees, and confirming the transaction with a PIN or OTP. Confirmation notifications are sent upon successful processing.
The linkage supports G20 goals for affordable and accessible cross-border payments and is the first direct connection between the two countries’ fast-payment systems. Transfer limits vary by direction: Nepal-to-India transfers are capped at INR 15,000 per transaction and INR 100,000 monthly, while India-to-Nepal transfers allow up to INR 200,000 per transaction with no monthly limit. This initiative aims to simplify remittances and enhance financial inclusion in the region.
The service currently operates with a select group of banks in both countries. Users can now send cross-border payments instantly using UPI and NPI, marking a milestone in India-Nepal financial cooperation.