Through the Remittance Fund Transfer API, fund transfer from outside of India is made easy. Exchange houses abroad can set up services to transfer money into Indian accounts. Along with Federal Bank APIs for enquiry and reconciliation, this bundle offers a complete fund transfer solution, from abroad to accounts maintained by Federal Bank in India. These APIs are used for receiving the money from foreign exchanges, money will be transferred between exchange Account number and the customer account number.
The Unified Payments Interface (UPI) is an instant, real-time payment system developed by National Payments Corporation of India (NPCI) facilitating inter-bank transactions. It is a unique solution that can be used to transfer money and make payments using the Immediate Payments Service (IMPS). UPI is an initiative by NPCI, regulated by RBI. UPI works 24/7. Federal Bank offers the UPI API stack for fintech and startup partners to readily integrate UPI services in their products .
