The settlement is aimed toward revolutionising the method of worldwide cash transfers, with a selected deal with streamlining remittances from Greece to India, NIPL mentioned in a launch, including that this may make Greece one of many first European international locations to allow the Indian diaspora residing within the nation to undertake fast and seamless remittances utilizing UPI rails.
“This strategic alliance with Eurobank marks a big milestone within the enlargement of cost applied sciences in-built India, past our borders. It showcases the flexibility and energy of UPI inside the worldwide monetary panorama, paving the best way for strengthening India-Greece financial ties via enhanced remittance flows,” mentioned Ritesh Shukla, CEO of NIPL.
The settlement will allow International Inward Remittance transactions from Greece to India, and can assist handle fund settlement, reconciliation, and dispute resolutions within the respective jurisdictions.
Fokion Karavias, CEO of Eurobank, mentioned UPI remittances can be significantly helpful to the Indian group in Greece. “A strategic alliance with NPCI Worldwide can be totally in keeping with Eurobank’s strategic dedication to changing into the financial institution of alternative for Indian companies in search of to determine themselves in Greece or in Cyprus, as an entry level for his or her EU franchise.”
The Eurobank Group, consisting of Eurobank S.A. (Eurobank) and its subsidiaries, has whole property of €80.5 billion, 10,468 workers and 540 branches as of September 2023. Eurobank Ergasias Companies and Holdings S.A. (Eurobank Holdings) is the guardian firm of Eurobank Group, which additionally has a presence in Cyprus, Bulgaria, Luxembourg and the UK (London).
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