RBI grants credit lines through UPI to small finance banks

Quick Summary:

The RBI has allowed small finance banks to extend pre-sanctioned credit lines through the UPI to extend "financial inclusion" and "enhance formal credit," especially to new customers.

The post RBI grants credit lines through UPI to small finance banks appeared first on CoinGeek.

The UPI has seen a tenfold increase in volume over the past four years, from 12.5 billion transactions in 2019-20 to 131 billion transactions in 2023-24, or 80% of all digital payment volumes.

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Article Details

Author / Journalist: Pradipta Mukherjee

Category: Crypto

Markets: CanadaGermanyIndia

Topics: Unified Payments Interface Reserve Bank of India Shaktikanta Das Business

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-12 @ 06:00:00 (13 hours ago)

News Timezone: GMT +8:00

News Source URL: coingeek.com

Language: English

Article Length: 676 words

Reading Time: 4 minutes read

Sentences: 28 lines

Sentence Length: 25 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © CoinGeek

News ID: 24369916

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