Category: UPI
-
Private Banks to Offer UPI Credit to New Customers Using Fixed Deposits as Collateral
•
Private banks are planning to target new-to-bank customers with credit on UPI using fixed deposits (FDs) as collateral. Although NPCI has not yet launched the credit-line-on-UPI service, banks are preparing their framework for the same. Lending Against Deposits Lending against deposits is a cost-effective way for banks compared to issuing…
-
Rupee Revolution? India’s UPI Eyes International Expansion
•
Let us forget the fading dream of a cashless society – a cashless society seems equally unlikely. But for India, the way tea, or any other good or service, is paid for is undergoing a digital revolution. The Unified Payments Interface (UPI), a mobile app-based system, has become the preferred…