"RBI joins 'Project Nexus' to make it easier and faster for people to pay for things across borders."

National

RBI joins “Project Nexus” conceptualised by the Innovation Hub of the BIS, aims to connect the FPSs of four ASEAN countries for efficiency by 2026. RBI has joined 'Project Nexus' to streamline cross-border retail payments, aiming for faster transactions globally. This collaboration is set to enhance international payment efficiency and convenience for consumers.


      Nexus, led by BIS Innovation Hub, connects FPSs of ASEAN nations and India for instant cross-border retail payments.

      BIS and Central Banks of founding countries (BNM, BOT, BSP, MAS, RBI) signed agreement on June 30, 2024 in Basel, Switzerland.

     

 

     


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