Credit on UPI
While the term 'Credit on UPI' is used colloquially, there is no formal product permitted by the regulator. Despite this, it had all the limelight during the Global Fintech Fest 2021. UPI under NPCI has seen humungous transactions over the past few years, logging 3.65 billion transactions worth Rs 6.5 trillion in the last month of September. Over that, credit as a product has started to penetrate strongly in the Indian space. Hence, the merger of the two can be revolutionary.
Overdraft Accounts & UPI
UPI 2.0, launched in 2018, announced linking of overdraft