AU Small Finance Bank Enables UPI for NRE/NRO Accounts Abroad
Why in the news
AU Small Finance Bank (AU SFB) switched on UPI access for NRIs holding NRE and NRO accounts, using phone numbers issued abroad, as per NPCI’s guidelines.
Key facts
- Who: NRIs with NRE/NRO accounts at AU SFB; these accounts let NRIs handle money matters in India.
- Feature: link the account to UPI with no Indian SIM, enabling smooth digital payments in India.
- Basis: NPCI guidelines extending UPI to international mobile numbers.
Countries covered (12)
| Region | Countries |
|---|---|
| Asia-Pacific | Australia, Hong Kong, Malaysia, Singapore |
| Middle East | Oman, Qatar, Saudi Arabia, UAE |
| Europe and Americas | France, UK, Canada, USA |
About AU SFB
- Established 2017, converted from AU Financiers; head office Jaipur, Rajasthan.
- Focus: retail banking, MSME lending and digital financial services.
Exam angle
- NRE = Non-Resident External; NRO = Non-Resident Ordinary.
- Regulatory push: NPCI.