Profit Sheets

India and Singapore to link their digital payment systems

September 14, 2021 12:22 PM

India and Singapore to link their digital payment systems
India and Singapore to link their digital payment systems, enabling users to send and receive instant funds from one bank or e-wallet account to another in Singapore.

The central banks of India and Singapore will link their digital payment systems for “instant, low-cost fund transfers”, said the two sides on Tuesday, India and Singapore to link their digital payment systems aiming to finish the project by July 2022.

Linking Reserve Bank’s Unified Payments Interface (UPI) and Monetary Authority of Singapore’s will be a “milestone in the development of infrastructure for cross-border payments”, said the Indian central bank in a press statement. The linkage will be reciprocal and won’t need users to get “onboarded” onto either payment system.

Also Read: RBI and Singapore central bank to link payment systems by July 2022

UPI, which supports person to person and person to merchant payments, is India’s flagship payment platform and logged more than 3 billion transactions for the second consecutive month in a row in August. It was launched in 2016 and has seen sharp growth during the Covid-19 outbreak.

PayNow enables peer-to-peer funds transfer service, enabling users to send and receive instant funds from one bank or e-wallet account to another in Singapore.

Leave a comment

Market Live Updates


Intraday Tips
Stock Name Open Price Trend Details
Reliance 1930.10 Buy  Click Here
Asian Paints 2577.00 Buy  Click Here
HDFC 2448.00 Buy  Click Here
HDFCAMC 2790.00 Buy  Click Here
TCS 3120.00 Buy  Click Here



NSE Top Gainers/Losers
COMPANY LTP %CHNG VOLUME
ONGC 135.10 5.14 4,03,32,961
JSWSTEEL 660.50 4.31 84,34,405
INDUSINDBK 1,135.90 4.22 40,49,393
BAJFINANCE 7,591.25 2.00 8,17,841
UPL 722.90 2.45 31,22,653
COMPANY LTP %CHNG VOLUME
MARUTI 6,784.50 -2.39 7,54,854
AXISBANK 784.85
-1.38
55,25,654
HEROMOTOCO 2,839.30 -1.74 4,04,569
BPCL 415.50
-1.17
66,91,530
BAJAJ-AUTO
3,715.40
-1.61 2,10,350