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Payment Giant Offers 32 Million Indian Expats a SWIFT Alternative

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Payment Giant Offers 32 Million Indian Expats a SWIFT Alternative

The business that created the foundation for India’s digital payments intends to make it less expensive and simpler for the 32 million Indians who live abroad to send money back home.

Indians living abroad sent back $87 billion last year, the most amount of any country the World Bank has been keeping track of. According to Ritesh Shukla, CEO of NPCI International Payments Ltd., the remittances industry is ripe for disruption because it costs $13 on average to move $200 across borders.

Shukla stated, “We have significantly reduced the use of cash in India and are attempting to replicate this achievement in cross-border corridors. “We will establish acceptability for our instruments in the markets where Indians travel regularly, and overseas Indians can use our railroads to deposit money directly into their bank accounts.”

Shukla emphasised that the goal was not to replace existing platforms, but rather to provide India with a homegrown alternative to SWIFT, the Belgian company that operates the cross-border payment system. The universal payment interface shared by 25 apps and about 330 banks, including WhatsApp by Meta Platform Inc. and Google Pay by Alphabet Inc., has helped India’s $3 trillion instantaneous digital transactions market grow.

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In order to duplicate its domestic success, NPCI is currently linking the UPI platform to systems in other nations. According to Shukla, it is discussing partnerships with governments, fintech firms, and service providers all across the world in an effort to lower transaction costs and facilitate more small-ticket transactions.

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According to Mayank Goyal, CEO of moneyHop, a cross-border banking software that enables users to send money abroad over the SWIFT network, “this is going to take the payments world by storm.” Goyal stated that because UPI rails facilitate cross-border payments, the business will work to incorporate them into the app.

The Reserve Bank of India stated in a report that UPI’s connections with foreign countries will further anchor commerce, travel, and remittance movements between the countries and reduce the cost of cross-border remittances.

Together with the nation’s lenders, the Reserve Bank of India established NCPI in order to speed up, expand accessibility, and lower the cost of retail payments. To rapidly transact with vendors and send money between friends or family, a user only requires a virtual payment address.

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Bhagyashree enjoys working out. The actor enjoys working out in the gym and is frequently seen doing animal-like moves in the quiet nooks of the facility or her living room. Bhagyashree swears by yoga and high-intensity workouts, and she firmly believes in the need of commitment and focus in establishing a healthy lifestyle. Bhagyashree’s Instagram account is full of images and videos of her participating in various gym regimens, and each of them inspires us to start leading healthier lives. In addition to being a fitness fanatic, Bhagyashree is a licenced nutritionist who frequently discusses the advantages of changing our diets and lifestyles in order to live longer, healthier lives.

A day earlier, Bhagyashree posted a little clip from the gym showing her leg day training. With the little video showcasing how she like to focus on strengthening her legs and hamstrings, Bhagyashree banished our midweek blues. Bhagyashree may be seen in the video stretching her legs while sitting on a piece of exercise equipment. The actor can be seen resting on her chest and extending her hamstrings later in the video. “It’s crucial to work on your quadriceps, which are the largest muscle in your body, during leg training days. However, it’s equally crucial to counteract that by developing the appropriate hamstring muscles “read a portion of her blog post.

Leg exercises have a variety of positive health effects. It aids in strengthening, shaping, and toning the legs. Leg exercises also support a healthy body weight, the maintenance of that weight, and the development of your core muscles. Bhagyashree continued, “Always remember to perform your hamstring curls, glute bridge, hyperextensions, and RDLs (Romanian deadlifts) the day you focus on your quads.

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Black Friday discounts of up to Rs. 11,500 are offered by Garmin India.

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Black Friday discounts of up to Rs. 11,500 are offered by Garmin India.

It’s that time of year again! Black Friday is just around the corner, and that means big discounts on your favorite products. This year, Garmin India is offering discounts of up to Rs. 11,500 on select items. So whether you’re looking for a new GPS system for your car, or a fitness tracker to help you stay on track with your New Year’s resolutions, Garmin has you covered. So hurry in and take advantage of these great deals before they’re gone!

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Group Media Publications
Entertainment News Platforms – anyflix.in      
Construction Infrastructure and Mining News Platform – https://cimreviews.com/
General News Platform – https://ihtlive.com/
Legal and Laws News Platforms – https://legalmatters.in/
Podcast Platforms – https://anyfm.in/

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