Prime Minister of India Narendra Modi and Prime Minister of Singapore Lee Hsien Loong flagged off the UPI-Paynow interlinkage facility to ease money transactions between the two countries. Its meaning is big because India’s digital payment system Unified Payments Interface (UPI) is now getting global recognition.

Now the question must have come in your mind that through the UPI Paynow interlinkage facility, money transactions between India and Singapore are linked with which banks. So, let us tell you that these banks and financial institutions of India will provide this facility.

This bank will provide facility

• Axis Bank
• SBI
• ICICI Bank
• DBS Bank
• Indian Bank
• Indian Overseas Bank

To transfer money in Singapore, it is necessary to have an account in these banks. Recently this scheme has been inaugurated, so at present which banks are providing the facility of UPI-Paynow. Know this.

• SBI
• DBS Bank India
• Indian Bank
• Indian Overseas Bank

Understand how to take advantage

One question that is arising after the launch of this facility is what happens if a person’s UPI ID is not registered with these banks. So the money can be received in India in the account of a partner. The answer is that the registered UPI ID can be used in the same bank where the account is maintained.

The limit for cross-border transactions through UPI has also been fixed. One day limit has been fixed. 60000 i.e. 1000 Singapore Dollar transactions can be done in a day.

In today’s date where the world is becoming completely digital. At that time, this is a great relief for the Indians who live in many countries, because from many students to employed people, everyone wants the facility of digital payment in one click or through mobile through one click.

There are many countries such as UK, France, UAE-mostly Dubai or Oman, Nepal, Bhutan, Singapore and Malaysia, where money transfers are done through internet banking. But even easier than this is UPI and in one click money can be transferred to a person sitting in another country.

The post UPI payment limit fixed for this country: Now the limit has been fixed for transferring money from these banks to Singapore through UPI first appeared on Rightsofemployees.com.