13-Feb-2023: RBI gives permission for NRIs and G-20 Countries to access UPI

RBI gives permission for G-20 countries and NRIs to access UPI for merchant payments/person to merchant (P2M) at select airports in India.

Banks and non-banks authorized to issue Prepaid Payment Instruments (PPIs) can issue rupee-denominated full-KYC PPIs to foreign nationals and NRIs visiting India. Conversion to Indian rupee can be carried out only by entities authorized to deal in foreign exchange under FEMA.

PPIs are payment instruments that facilitate the purchase of goods and services against the value stored on such instruments. The value stored on such instruments represents the value paid for by the holder, by cash, by debit to a bank account, or by credit card.