Non-resident Indians (NRIs) will soon be able to make the united payments interface (UPI) payments without having an Indian mobile number, that is using their international number.
The National Payments Corporation of India (NPCI) in a recent circluar said, “We have been receiving requirement from the eco-system with regards to the Non-resident (NR) accounts and other proper accounts having international numbers to be allowed to transact in UPI. And there has been customer need in the ecosystem to enable UPI for their NR accounts have international number and experience the seamless and instant voyage of UPI.”
GST in BHIM
The Goods and Services Tax (GST) will not apply to government incentives given to banks to encourage use of RuPay debit cards and low-value BHIM-UPI transactions, as per the finance ministry. A ₹2,600-crore incentive programme for banks to promote RuPay debit cards and low-value BHIM-UPI transactions in the current year was approved by the Cabinet last week.
“As recommended by the Council, it is hereby clarified that incentives paid by MeitY to acquiring banks under the Incentive scheme for promotion of RuPay Debit Cards and low-value BHIM-UPI transactions are in the nature of subsidy and thus not taxable,” it said.