The Unified Payments Interface (UPI) allows users to transfer money instantly. With UPI, you can send and receive money from friends, family, and merchants, and even pay bills. This service is available 24/7, so you can make transactions whenever you need.
Making payments is simple with UPI. You can just scan a QR code or enter the receiver’s phone number or UPI ID, which means you don’t need to share bank details for transfers.
In February 2024, during Indian Prime Minister Narendra Modi’s visit to the UAE, an agreement was signed to allow Non-Resident Indians (NRIs) to use UPI for their transactions.
Several banks in India now let NRIs from the UAE link their UPI accounts to an international mobile number. These banks include:
- Axis Bank
- Canara Bank
- City Union Bank
- DBS Bank Ltd
- Equitas Small Finance Bank
- Federal Bank
- HDFC Bank
- ICICI Bank
- IDFC First Bank
- IndusInd Bank
- Punjab National Bank
- South Indian Bank
Currently, payments can be made from and to these specific bank accounts.
If you want to send money from a UAE-based account in an Indian bank to an Indian account, you can do this through UPI as well. There are multiple ways to transfer money using UPI. Some banks allow users to do this directly through their banking apps. Alternatively, you can use any of the approved digital payment apps for transfers.
Here are the banks that allow UPI transfers through their apps:
- Federal Bank (FedMobile)
- ICICI Bank (iMobile)
- IndusInd Bank (BHIM Indus Pay)
- South Indian Bank (SIB Mirror+)
- AU Small Finance Bank (BHIM AU)
The digital payment apps that NRIs can use for UPI transfers include:
- PhonePe
- BHIM UPI
- PayTM
- Google Pay
How to Register for UPI Transfers
To make instant payments within India from your NRE/NRO or regular account, follow these steps:
First, ensure your bank account’s KYC (Know Your Customer) is completed. Your UAE phone number should also be linked to your bank account.
Then, you can use your bank’s app or your preferred digital payment app to register. Once you enter your phone number and other necessary details, you’ll be able to make quick transfers using just your phone.
