India and Nepal Launch Cross-Border Remittance Mechanism to Strengthen Bilateral Financial Connectivity

• UPI–NPI linkage: Direct interlinking of India's Unified Payments Interface (UPI) with Nepal's National Payments Interface (NPI) enabling real-time P2P cross-border remittances via mobile apps.
• Operationalised on 6 June 2026; formally announced by the Ministry of Finance on 11 June 2026.
• Marks the first bidirectional UPI–domestic-rail integration with a SAARC neighbour, advancing India's Digital Public Infrastructure (DPI) export strategy and Neighbourhood First policy.
• UPSC relevance: GS-II (India–Nepal relations), GS-III (digital economy, financial inclusion).