Favara-UPI cross-border corridor goes live between Maldives and India
India · APAC
Cross-Border Payments / Remittances
The Maldives Monetary Authority announced that its domestic instant payment system, Favara, is now interoperable with India's UPI, enabling real-time person-to-person transfers from Maldivian Rufiyaa to Indian Rupees. The corridor launched with two participating Maldivian banks, Bank of Maldives and Maldives Islamic Bank, following an integration agreement between NPCI International Payments Limited and the MMA signed in July 2025.
This extends UPI's cross-border interoperability to another live corridor, a stated RBI / NPCI International priority, and gives Indian expatriates and Maldivian residents a formal instant-payment remittance rail for family-maintenance and gift transfers.
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