How RBI works with other countries to make UPI global?
Shortpedia
Content Team![](https://assets.shortpedia.com/uploads/2024/07/22/1721663987.jpg?tr=w-720,ar-3-2,cm-pad_resize,bg-F3F3F3)
Image Credit: newsbytes
The Reserve Bank of India (RBI) is partnering with multiple countries, to globalize the Unified Payments Interface (UPI), as revealed in the Economic Survey 2023-2024. The bank's objective is to improve efficiency in cross-border payment systems. Notably, RBI has become a part of Project Nexus. It is an international initiative aimed at integrating India's Fast Payments System (FPS), or UPI, with their respective FPSs, for cross-border person-to-person and person-to-merchant payments.