Now banks will issue credit line, what is credit line, know about it

Photo: CANVA Now this is how easy loan will be available through credit line, know about it

UPI Digital credit line policy: Till now we used to get bank loans only by looking at our credit score, as well as we had to go through a lot of rounds to get the loan. On the other hand, now the Reserve Bank of India has made this task easier by expanding the scope of UPI, where you will be able to get loan easily through digital credit line. With this, loans can now be easily availed using credit lines through UPI.

What is UPI Digital Credit Line

Let us tell you that with the announcement of the new monetary policy, RBI has greatly expanded the scope of UPI, where now if anyone wants a loan, he will be able to get a loan easily through UPI Digital Credit Line, in such a situation, the use of UPI will be even more. Will grow

Benefits of UPI Digital Credit Line

Let us tell you that now the facility of Buy Now Pay Later is provided in many digital payments apps, which has now been expanded by RBI. At the same time, now Rupay credit card will also be linked with UPI, which will give many benefits to the people. On the other hand, with the expansion of the credit line, the common people will not have to carry separate cards, where they will be able to pay easily through UPI when the credit card is linked. Along with this, usually when people get a credit card made, it takes a long time to make a credit card, while this work will be done easily through the UPI digital credit line.

Increasing trend of UPI, know what could be the consequences

Tell that after the introduction of UPI Digital Credit Line Policy, the common people will get a lot of convenience, because this will stop their running for loans. On the other hand, the use of UPI is increasing day by day, where after the introduction of this facility, its use will increase further. On the other hand, 8.7 billion UPI transactions have been recorded in March 2023, with a 60% increase in real-time payments.

Latest Business News

Related articles