Indians living abroad will now be able to send money easily and at a low cost via UPI through post offices. The UPI-UPU integration project, launched in Dubai, will enable transactions in over 190 countries. This will particularly benefit migrant workers, small businesses, and e-commerce operators.
UPI NEWS: There is big relief news for Indian expatriates. Union Minister for Communications Jyotiraditya Scindia launched the UPI-UPU Integration Project at the 28th Universal Postal Congress in Dubai. With this initiative, India's UPI has now connected to the Universal Postal Union's network, which spans 190 countries. Under this, users will be able to send money abroad faster and at a lower cost through post offices. This project has been developed in partnership with India Post, NPCI International Payments, and the UPU. It will facilitate timely and cheaper transactions for expatriate Indian families, small business owners, and e-commerce sellers.
UPI-UPU Integration Project Launched from Dubai
Union Minister for Communications Jyotiraditya M. Scindia launched this initiative at the 28th Universal Postal Congress held in Dubai. This project has been jointly developed by India Post, NPCI International Payments Limited, and the Universal Postal Union (UPU). With this integration, India's popular payment platform UPI has now directly connected to the global postal network.
UPI to be Connected to the Postal Network
Through this project, people will be able to send and receive money via the post office network. The Universal Postal Union's network extends to over 190 countries. This means Indian expatriates working abroad will be able to easily send money to their families in India. Additionally, small business owners and e-commerce sellers who rely on international transactions will also directly benefit.
Lower Costs and Faster Processing
Until now, the process of sending money from abroad was proving to be expensive and time-consuming. Expatriate Indians had to bear additional costs due to different banking systems and international charges. However, with the integration of UPI and UPU, not only will time be saved in sending money, but transfer charges will also be significantly reduced.
Direct Benefit for Indian Expatriates
The maximum benefit from this facility will go to Indian laborers and workers employed in Gulf countries and other regions. Banking facilities are often limited in these areas. In such cases, UPI-based transfers through post offices will prove to be a relief for them. They will now be able to send money home easily and securely.
During the launch event, Union Minister Jyotiraditya Scindia stated that this initiative is an important step towards improving financial services. He added that the trust people have in the postal network, combined with the speed of UPI, will make transactions secure and affordable. This will impact crores of Indian families.
Digital Infrastructure to be Strengthened
India has rapidly promoted digital public infrastructure in recent years. UPI is the biggest example of this, having completely transformed the payment system within the country. Now, this step will give India a b identity in the global digital payment network.
According to official data, last year Indian Post delivered over 90 crore letters and parcels. Furthermore, over 56 crore bank accounts have been opened under the Jan Dhan Yojana and India Post Payments Bank, with a significant number of them being in women's names. Now that postal services have been linked with the digital payment system, its impact is set to deepen.
Relief for Small Businesses Too
Small merchants who do business with international customers will also benefit from the new system. The payment process will become easier and cheaper, especially for those working in the e-commerce sector. This will also give new momentum to India's digital commerce.
