| Key Aspect | Details |
|---|---|
| Event | Real-time cross-border remittance launched between India and Bahrain. |
| Partnership | UPI (India) linked with Fawri+ (Bahrain). |
| Led by | NPCI International (NIPL) and BENEFIT (Bahrain). |
| Regulatory Oversight | Reserve Bank of India (RBI) and Central Bank of Bahrain (CBB). |
| Objective | Enable instant, low-cost money transfers between Indian and Bahraini bank accounts. |
| Indian Diaspora in Bahrain | ~30% of Bahrain's population (~350,000 Indians). |
| Trade & Investment | Trade (2024-25): USD 1.64 billion; Mutual investments: >USD 2 billion. |
| Key Features | 1. Real-time transfers (seconds).2. Mobile/QR-based (UPI & Fawri+).3. Regulated by RBI & CBB. |
| Background | - 2019 MoU (NPCI-BENEFIT) during PM Modi's visit.- Dec 2024: India-Bahrain High Joint Commission reaffirmed fintech ties. |
| Static Facts | - UPI: Launched 2016 (NPCI).- NIPL: Founded 2020.- BENEFIT: Established 1997.- Fawri+: Bahrain's EFTS service. |
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