{
Adhil Shetty

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RBI Expands UPI Credit Facility to Small Finance Banks for Financial Inclusion

The Reserve Bank of India (RBI) has extended the credit on UPI facility to small finance banks, previously available only to scheduled commercial banks. This initiative, launched in September 2023, allows users to access instant credit through UPI apps, enhancing financial inclusion, especially for customers in small towns and rural areas. The move aims to provide convenient digital credit access for 'new-to-credit' customers, promoting broader financial participation.
Moneycontrol
United States Dollar National Payments Corporation OF India Bankbazaar.com IND Adhil Shetty Show more
Finance & Economy, News Article
07:03 06.12.2024
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