India and Singapore to link their Fast Payment Systems, UPI and PayNow by Mr. Asheesh Chanda, Kristal.AI
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Below are Views On India and Singapore to link their Fast Payment Systems, UPI and PayNow By Mr. Asheesh Chanda, Founder and CEO of Kristal.AI
"This is a very positive and encouraging announcement. The reduction in time & charges for cross-border payments will help grow trade between India & Singapore. From an investing perspective, this will incentivize more retail investors to access global markets. Currently, they pay upto Rs.3000 in inter-bank charges which are over & above the LRS processing fees by banks. This eats into their returns and hence discourages small investors from accessing global markets. The project is a welcome initiative and we look forward to its final rollout."
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