DSK Legal Advised NPCI International Payments Limited On Leveraging UPI to Revolutionalize Foreign Inward Remittances to India through Department of Posts, Government of India
DSK Legal Advised NPCI International Payments Limited On Leveraging UPI to Revolutionalize Foreign Inward Remittances to India through Department of Posts, Government of India
The leading law firm in India, DSK Legal advised NPCI International Payments Limited (NIPL) in connection with its arrangement with the Department of Posts, Government of India (India Post) for enabling cross-border remittances through the Universal Postal Union (UPU) postal network by leveraging Unified Payments Interface (UPI) rails.
The launch represents the first potential global deployment of UPI on an international postal remittance network and marks a significant step towards strengthening financial inclusion and India's digital public infrastructure for cross-border digital payments. Under the initiative, international postal operators (who are part of UPU's global postal network) will connect with India Post to facilitate seamless and instant cross-border transfers. Through this integration, users of such international postal operators will be able to remit funds into India conveniently via UPI rails, specifically benefitting Indian workers abroad and families depending on remittances.
In connection with the project, DSK Legal assisted NIPL in drafting and execution of the cross-border remittance agreement with India Post and advised on Indian legal frameworks applicable to cross-border postal payments, keeping in mind the technical and commercial considerations for the two legs of settlement (international and domestic). The engagement involved navigating through the complex regulatory requirements pertaining to KYC, anti-money laundering, data protection, and the UPI switch architecture.
The DSK Legal team representing NIPL comprised Mr. Rishi Anand (Partner) as the lead engagement partner, providing strategic inputs on the project, along with Mr. Chirag Jain (Associate Partner), Ms. Shreya Singh (Senior Associate), and Ms. Ria Mishra (Associate).
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