RBI allows pre-approved credit lines for payments over UPI
Mint Mumbai|April 07, 2023
Individuals with pre-approved credit lines from banks will soon be able to use it to make payments over the Unified Payments Interface (UPI), the Reserve Bank of India (RBI) said on Thursday, setting the stage for new credit products over the homegrown payments platform.
Shayan Ghosh
RBI allows pre-approved credit lines for payments over UPI

MUMBAI : Currently, UPI payments can be done between deposit accounts, sometimes intermediated by pre-paid instruments including wallets. Last June, the RBI also approved the use of Rupay credit cards on UPI, stoking hopes that it would eventually allow delivery of credit products through the payments mechanism.

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