Maldives-India Cross-Border Payment Corridor Live
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Insights by Echo AI
The Maldives has launched real-time cross-border fund transfers to India through the integration of its instant payment system, Favara, with India’s UPI. Individuals from the Maldives can now transfer funds in real time to UPI-enabled bank accounts in India through their mobile banking applications. The agreement was executed between NIPL and Maldives Monetary Authority (MMA) and achieved full operational readiness after a 10-day testing phase.
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Favara-UPI Cross-Border Payment Corridor Goes Live Between Maldives an...
RT @PIB_India: Favara-UPI Cross-Border Payment Corridor Goes Live Betw...
Favara-UPI cross-border payment corridor goes live between Maldives, I...
Favara-UPI cross-border payment corridor goes live between Maldives, I...
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