India and UAE Launch Cross-Border Instant Payment Link Between UP...

India and the UAE activated a real-time cross-border payment corridor linking India Unified Payments Interface with the UAE instant payment system AANI, allowing the over 3.5 million Indian expatriates in the Gulf nation to send money to India in seconds at near-zero fees. The launch was announced jointly by RBI Governor Sanjay Malhotra and UAE Central Bank Governor Khaled Humaid Al Tameemi in Dubai. Transfer limits are set at Rs 2 lakh per transaction for individuals, with a daily cap of Rs 5 lakh. The corridor is built on the ISO 20022 messaging standard and is designed to expand to five additional Gulf Cooperation Council countries by end of 2026. NPCI International, which manages UPI linkages abroad, said the UAE corridor processed over 100,000 transactions within the first six hours of launch.