India and the Maldives have operationalised the Favara-UPI cross-border payment corridor, enabling individuals in the Maldives to transfer money instantly to UPI-enabled bank accounts in India, marking a major milestone in digital payments and bilateral financial cooperation.

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• NPCI International Payments Limited (NIPL) and the Maldives Monetary Authority (MMA) have successfully launched the integration of the Maldives’ Favara Instant Payment System with India’s Unified Payments Interface (UPI).
• Following the launch on July 30, 2026, users in the Maldives can now transfer funds in real time to UPI-enabled bank accounts in India directly through their mobile banking applications.
• The new payment corridor strengthens cross-border digital financial connectivity, making remittances faster, more secure, and more convenient for individuals and businesses in both countries.
• The integration represents a significant step in expanding India’s UPI ecosystem globally, reinforcing its position as one of the world’s leading digital payment platforms.
• The initiative is expected to benefit Indian expatriates, tourists, businesses, and families by reducing transaction time and improving the efficiency of cross-border fund transfers.
• According to the Finance Ministry, the launch reflects the growing economic and financial partnership between India and the Maldives while promoting digital innovation in payment infrastructure.
• NPCI International Payments Limited, the international arm of the National Payments Corporation of India (NPCI), continues to expand UPI partnerships with countries across Asia and beyond.
• The Favara-UPI integration is another milestone in India’s efforts to promote secure, interoperable, and real-time digital payment systems through international collaboration.