🏦 UPI-UPU Global Remittance Service: Key Highlights
India Post, in collaboration with NPCI International and the Universal Postal Union (UPU), has launched a digital remittance platform designed to streamline international money transfers for Indian citizens.
🔧 Core Features
- UPI Integration: Overseas senders can remit funds directly to India using UPI.
- Dual Delivery Options:
- Cash Pickup at designated post offices.
- Direct Credit to IPPB accounts.
- Low-Cost Alternative: Lower transaction fees than Western Union or MoneyGram.
👥 Target Beneficiaries
- Migrant Workers: Faster, cheaper remittance to rural families.
- Small Exporters & E-Commerce Sellers: Seamless international payments.
- Diaspora Communities: Easy financial support for relatives and causes.
📈 Strategic Impact
- Boosts India’s role in the global remittance ecosystem.
- Strengthens digital public infrastructure and postal banking.
- Promotes financial inclusion via last-mile delivery.
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