India, March 11 -- The Reserve Bank of India (RBI) governor Sanjay Malhotra on Monday (March 10) said that the central bank is working to make cross-border payments "more efficient".

Addressing the Digital Payments Awareness Week 2025 in Mumbai, Malhotra said that there was a need to address challenges such as high cost, slow speed and insufficient access and transparency in cross border payments.

He also noted that the RBI plans to continue expanding the reach of unified payments interface (UPI) "bilaterally" by linking the payments infrastructure with fast payment systems of other nations.

". We will continue to expand the reach of UPI bilaterally by linking UPI with fast payment systems of other countries. We will also explore the p...