On 21-11-2025, the Reserve Bank of India issued a press release on Interlinking of Unified Payments Interface (UPI) with the TARGET Instant Payment Settlement (TIPS) of the Eurosystem.
All you need to know about the interlinking:
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RBI has been actively pursuing interlinking of UPI with fast payment systems of other jurisdictions to promote cross-border payments.
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This initiative is in alignment with the G20 Roadmap for enhancing cross-border payments.
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The interlinkage aims to facilitate cross-border remittances between India and the Euro Area and is expected to benefit users of both jurisdictions.
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It focuses on cheaper, more efficient, more transparent and more accessible remittances.
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RBI and NPCI International Payments Limited (‘NIPL’) have been engaging with European Central Bank on the initiative to connect UPI with the TARGET Instant Payment Settlement (TIPS).
Note- TIPS is the instant payment system operated by the Eurosystem.