Indian citizens residing in the UAE have already enjoyed the benefits of UPI during their visits back home. The Unified Payments Interface enables users to transfer funds instantaneously. This system allows for sending and receiving money from individuals and merchants, and even facilitates bill payments. These transactions are not bound by time constraints and are available round the clock. Additionally, these payments can be executed by scanning a QR code or inputting the recipient's phone number or UPI ID, thus eliminating the need for bank details during the transfer process.
In February 2024, an agreement was signed during Indian Prime Minister Narendra Modi's visit to the UAE, allowing Non-Resident Indians (NRIs) to conduct UPI transactions. Several banks in India now permit NRIs from the UAE to link their UPI account to an international mobile number. Currently, payments are facilitated only from and to specific bank accounts.
If you wish to transfer money from a UAE-based account in an Indian bank to an Indian account, you can do so via UPI. There are various methods to transfer funds using UPI. Some banks allow direct transfers through their apps, while others can use approved digital payment apps for the same. The banks that support UPI transfers through their apps are listed below, along with the digital payment apps available for NRIs to make UPI transfers.
To register for making instant payments within India from your NRE/NRO or regular account, follow these steps: First, ensure your bank account's KYC is complete, and your UAE phone number is linked to your bank account. Then, use either your bank's app or your preferred digital payments app to register. Once you input your phone number and other necessary details, you will be able to make instantaneous transfers using just your phone.
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