Context:
AU Small Finance Bank (AU SFB) has enabled UPI services for NRE and NRO account holders using international mobile numbers, in line with NPCI’s directive. NRE (Non-Resident External) and NRO (Non-Resident Ordinary) accounts are bank accounts for Non-Resident Indians (NRIs) to manage their finances in India.
Key Highlights:
- Eligible Users: NRIs holding NRE/NRO accounts with AU SFB.
- Supported Countries (12): Australia, Canada, France, Hong Kong, Malaysia, Oman, Qatar, Saudi Arabia, Singapore, UAE, UK, USA.
- Feature: Allows NRIs to link accounts to UPI without an Indian SIM card, enabling seamless digital payments in India.
- Regulatory Basis: Aligned with NPCI’s guidelines to expand UPI access to international mobile numbers.
About AU Small Finance Bank (AU SFB)
- Established: 2017 (converted from AU Financiers).
- Headquarters: Jaipur, Rajasthan.
- Focus: Retail banking, MSME lending, and digital financial services.
