Real-time money transfers between India and Bahrain are set to become faster and easier. NPCI International Payments Limited (NIPL), the international arm of the National Payments Corporation of India, has partnered with Bahrain\u2019s BENEFIT Company to enable cross-border remittances between the two countries.<\/p>\n
The new system will connect India\u2019s Unified Payments Interface (UPI) with Bahrain\u2019s Electronic Fund Transfer System (EFTS), specifically the Fawri+ service, allowing users in both nations to send and receive money instantly and securely.<\/p>\n
Established under the guidance of the Reserve Bank of India (RBI) and the Central Bank of Bahrain (CBB), this collaboration marks a significant step toward improving cross-border payment connectivity. It aims to make remittances faster, cost-effective, and transparent, particularly benefiting the large Indian diaspora in Bahrain, which accounts for nearly 30% of the country\u2019s population.<\/p>\n
\nAccording to Ritesh Shukla, MD & CEO of NIPL, the partnership will strengthen financial connectivity and drive innovation in cross-border payments. \u201cWe believe this collaboration will deepen financial connectivity, promote financial inclusion, and benefit individuals and businesses alike,\u201d he said.<\/p>\n
Abdulwahed AlJanahi, Chief Executive of BENEFIT, called the partnership a \u201cstrategic milestone\u201d for Bahrain\u2019s digital finance ecosystem. \u201cThis initiative supports our efforts to deliver advanced, secure, and reliable digital payment services that expand economic relations between Bahrain and India,\u201d he said.<\/p>\n
Once operational, the UPI\u2013Fawri+ linkage will enable real-time, secure, and inclusive remittance services, advancing both countries\u2019 vision of a modern and connected digital payments infrastructure.<\/p>\n<\/div>\n
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