Archive · 22 Nov 2025
RBI, ECB Agree to Link UPI with TIPS for Faster India-EU Payments
The Reserve Bank of India (RBI) and the European Central Bank (ECB) have agreed to connect India's Unified Payments Interface (UPI) with the European Union's TARGET Instant Payment Settlement (TIPS).
This will make sending money between India and Europe faster, cheaper, and easier.
The next step is to work on technical integration and other details.
RBI and ECB agree to link UPI with TIPS for cross-border payments
Aim is to make sending money between India and Europe cheaper, faster, and more accessible
Realisation phase for UPI-TIPS link to start soon
This follows G20 roadmap to improve cross-border payments
India also exploring UPI-based digital payments systems with other countries
- Who
- Reserve Bank of India (RBI), European Central Bank (ECB), NPCI International Payments Limited (NIPL)
- What
- Interlinking Unified Payments Interface (UPI) with TARGET Instant Payment Settlement (TIPS)
- When
- November 21, 2025
- Where
- Between India and Europe
- Why
- To promote cross-border payments, making them cheaper, faster, more efficient, transparent, and accessible
Pro-UPI-TIPS Linkage
Cautious about UPI-TIPS Linkage
Ease of Cross-Border Payments
Pro-UPI-TIPS Linkage
The UPI-TIPS linkage will make cross-border payments faster and cheaper.
Cautious about UPI-TIPS Linkage
While the benefits are clear, there may be technical challenges and risks that need careful management.
- Payment Systems
- Unified Payments Interface (UPI), TARGET Instant Payment Settlement (TIPS)
- Initiative
- UPI-TIPS interlinkage
- Beneficiaries
- People from India and Europe
- Next Steps
- Technical integration, risk management, and settlement arrangements
- G20 Roadmap
- Follows the G20 roadmap to improve cross-border payments
Sources
RBI starts interlinking UPI with TIPS of Eurosystem
RBI unveils UPI-TIPS linkage to boost cheaper, quicker cross-border payments between India & Europe
ECB, RBI agree to start initial phase of interlinking domestic payment systems
RBI Announces Interlinking of UPI With European Instant Payment TIPS
UPI to link with Europe’s TIPS soon: RBI says work enters realisation phase
RBI Announces UPI Interlinking with Europe's TIPS to Boost Cross-Border Payments
RBI begins work on linking UPI–TIPS to ease India–Eurozone money transfers
RBI, ECB in pact to roll out UPI-TIPS cross-border payments
