RBI announce UPI-TIPS interlinkage for cross-border remittances between India and the Euro Area
Reserve Bank of India (RBI) announced the interlinking of the Unified Payments Interface (UPI) with the TARGET Instant Payment Settlement (TIPS) of the Eurosystem. RBI proposed UPI-TIPS interlink The proposed UPI-TIPS interlink aims to make cross-border remittances easier between India and the Euro Area. The RBI stated this would benefit users in both regions. The