Eurobank activated cross-border remittances from Greece to India through UPI on May 20. The Athens-headquartered bank became the first in Europe to enable UPI-based cross-border remittances to India. The service was launched through a strategic collaboration with NPCI International Payments Limited, a subsidiary of the National Payments Corporation of India.
The bank inaugurated its first India representative office at the Taj Mahal Palace Hotel in Mumbai on May 21. Cyprus President Nikos Christodoulides and NPCI International Group MD Dilip Asbe attended the ceremony. Eurobank CEO Fokion Karavias described the office as a first step, with a potential branch opening depending on business flow.
The remittance service is live in Greece and will expand to Cyprus at a later stage. It covers the full transaction lifecycle from initiation through clearing, reconciliation, and dispute management. The initiative reinforces Eurobank's participation in the India-Middle East-Europe Economic Corridor, positioning Greece and Cyprus as entry points for Indian companies targeting the European Union.