India-Maldives Favara-UPI Cross-Border Payment Corridor Goes Live

2 August 2026National

The Favara-UPI cross-border payment corridor between the Maldives and India became operational on 30 July 2026, connecting the Maldives Instant Payment System Favara with India's Unified Payments Interface (UPI). Customers of participating Maldivian banks can now transfer funds in real time to UPI-enabled Indian bank accounts, supporting faster remittances and digital financial cooperation. Favara is the Maldives' real-time payment system launched in 2023 by the Maldives Monetary Authority (MMA). The integration makes the Maldives the 10th country where UPI is live, after UAE, Singapore, Bhutan, Nepal, Sri Lanka, Mauritius, France, Cambodia and Seychelles. UPI's global rollout is managed by NPCI International Payments Limited (NIPL).

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UPI operated by NPCI; global arm NIPL | Maldives' payment system: Favara | UPI now live in 10 countries

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The Favara-UPI corridor makes the Maldives the 10th country where India's UPI is operational for real-time cross-border payments.

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