NPCI’s international arm has added 13 more Indian banks to the UPI PayNow 19 banks platform, expanding the total participating institutions to 19. The enhancement, effective July 17, strengthens the UPI PayNow 19 banks corridor, enabling secure and real-time remittances between India and Singapore—especially benefiting overseas workers and students.
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UPI‑PayNow Linkage Widens Reach
NPCI International Payments recently expanded its UPI‑PayNow corridor to include 13 additional Indian banks—bringing the tally to 19. This enhancement became effective on July 17, 2025, and allows users in India to send and receive real-time remittances via UPI and Singapore’s PayNow system.
Which Banks Were Included?
The newly added banks feature a mix of public and private institutions—such as HDFC Bank, Kotak Mahindra, Punjab National Bank, and Bank of Baroda. They now join existing members like SBI, ICICI, Axis, and DBS India to broaden cross-border payment access.
How It Works
Users in India can now receive money from Singapore directly via UPI apps like BHIM, PhonePe, and Google Pay. Conversely, Singapore users with PayNow can transfer money to India through linked Indian banks. Transactions are processed instantaneously and securely.
Why It Matters
This expansion further streamlines low-value remittances to and from Singapore, significantly reducing costs and settlement delays. As a result, it offers greater convenience to the Indian diaspora, including migrant workers and students. Moreover, it enables small, recurrent transfers with minimal bank details, while ensuring strong encryption and real-time confirmation.
