13 More Indian Banks Join the UPI-PayNow Link With Singapore
Why in the news
NPCI’s global arm, NIPL, widened the India-Singapore payment corridor on 17 July 2025.
Key facts
- 13 banks added to 6 existing ones, making 19.
- A real-time, cloud-based cross-border remittance system, built with RBI and MAS.
- UPI IDs on the Indian side; mobile numbers or VPAs in Singapore.
| Group | Banks |
|---|---|
| Added (13) | UCO Bank, South Indian Bank, Punjab National Bank, Kotak Mahindra Bank, Karur Vysya Bank, IndusInd Bank, IDFC FIRST Bank, HDFC Bank, Federal Bank, Central Bank of India, Canara Bank, Bank of India, Bank of Baroda |
| Already live (6) | State Bank of India, Indian Overseas Bank, Indian Bank, ICICI Bank, DBS Bank India, Axis Bank |
Exam angle
- Uses: person-to-person transfers and QR retail payments in Singapore; low cost, high security.