Singapore and India to link real-time payment systems by July 2022 for instant, low-cost transfers

Transferring money between Singapore and India is going to get easier. The two countries will link their real-time payment systems by July 2022. Singapore's PayNow and India's Unified Payments Interface will allow direct transfers between bank accounts. The Reserve Bank of India and the Monetary Authority of Singapore said the deal will allow users to make instant fund transfers on a reciprocal basis.

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