Last Updated on November 11, 2025 4:26 pm by BIZNAMA NEWS
NPCI International and Bahrain’s BENEFIT Partner to Strengthen Fintech and Digital Payment Connectivity
New Delhi / Manama| Web Desk
In a major step towards enhancing financial connectivity between India and Bahrain, NPCI International Payments Limited (NIPL) — the international arm of the National Payments Corporation of India (NPCI) — and BENEFIT, Bahrain’s leading fintech and electronic financial transactions company, have entered into a partnership to enable real-time cross-border remittances between the two nations.
This collaboration will link India’s Unified Payments Interface (UPI) with Bahrain’s Electronic Fund Transfer System (EFTS), specifically through the Fawri+ service, allowing users in both countries to send and receive money instantly, securely, and at lower costs.
Milestone in Digital Financial Inclusion
Developed under the guidance of the Reserve Bank of India (RBI) and the Central Bank of Bahrain (CBB), this partnership represents a major milestone in promoting digital financial inclusion and cross-border fintech cooperation.
Officials from both sides have described the initiative as a reflection of the shared vision of Prime Minister Narendra Modi and the Bahraini leadership to deepen bilateral cooperation in emerging technologies and financial innovation.
Background and Diplomatic Context
During Prime Minister Modi’s state visit to Bahrain in August 2019, an initial MoU between NPCI and BENEFIT was signed, laying the groundwork for this collaboration. The 4th India–Bahrain High Joint Commission Meeting held in December 2024 reaffirmed both sides’ commitment to advancing cooperation in fintech and digital payments.
Earlier this year, Indian Ambassador Vinod K. Jacob held separate meetings with Bahrain’s Minister of Finance and National Economy (February 2025) and the Governor of the Central Bank of Bahrain (April 2025), where both sides discussed mechanisms to enhance cross-border digital payment systems and strengthen the fintech partnership.
Boost to Bilateral Trade and People-to-People Ties
The new UPI–EFTS link is expected to significantly improve ease of remittance for the Indian diaspora in Bahrain — one of the largest Indian communities in the Gulf. It will also support growing trade, investment, and tourism flows between the two countries.
According to official Indian data, bilateral trade between India and Bahrain stood at USD 1.64 billion in 2024–25, while two-way investments are valued at slightly over USD 2 billion.
Officials said the initiative will “not only simplify transactions but also bring people closer, strengthening the economic and human bridge between the two nations.”