UPI enables expansion of credit among underserved borrowers: Study
The New Indian Express Vellore|December 09, 2024
UNIFIED Payments Interface (UPI) has enabled underserved borrowers to access formal credit for the first time as loans to new-to-credit borrowers in regions with high UPI adoption have increased by 4% and to subprime borrowers by 8%, according to a study.
ENS ECONOMIC BUREAU @ Bengaluru
UPI enables expansion of credit among underserved borrowers: Study

Titled Open Banking and Digital Payments: Implications for Credit Access, the study points out that the UPI, since its launch in 2016, has enabled 300 million individuals and 50 million merchants to perform seamless digital transactions.

It points out that the average size of a fintech loan was ₹27,778, which is about seven times the rural monthly expenditure.

Denne historien er fra December 09, 2024-utgaven av The New Indian Express Vellore.

Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.

Denne historien er fra December 09, 2024-utgaven av The New Indian Express Vellore.

Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.

FLERE HISTORIER FRA THE NEW INDIAN EXPRESS VELLORESe alt
The New Indian Express Vellore

I Know How to Play Real Characters

Jennifer Lopez speaks to Katie Ellis on how Unstoppable made her realise that she can overcome anything in life

time-read
3 mins  |
December 22, 2024
The New Indian Express Vellore

Of Our Non-violent Ancestors

Pattanaik provides a comprehensive insight into the mysterious world of the Harappan civilisation

time-read
1 min  |
December 22, 2024
The New Indian Express Vellore

The Corrosive Power of Pride

Pride fosters a sense of superiority that harms relationships, distorts the mind, and impedes personal and spiritual growth

time-read
1 min  |
December 22, 2024
The New Indian Express Vellore

Market on the Sands

The Rathgama Wella Fish Market

time-read
2 mins  |
December 22, 2024
The New Indian Express Vellore

Market on the Sands

The Rathgama Wella Fish Market

time-read
1 min  |
December 22, 2024
The New Indian Express Vellore

Stop Inane and Diversionary Debates, and Focus on What Really Matters

Acute Angle

time-read
4 mins  |
December 22, 2024
The New Indian Express Vellore

Stepping Across the Worry Lines

The Raghu Dixit Project launches a new album Shakkar as a vernacular statement about India and diversity

time-read
3 mins  |
December 22, 2024
The New Indian Express Vellore

Every Woman's Brushstrokes

A beautiful blue and pink-hued sky surrounded by lush greenery. Within this is a tree with specks of orange and yellow, besides which is a bed where a woman is sleeping her flowing tresses falling into the foliage.

time-read
1 min  |
December 22, 2024
The New Indian Express Vellore

Untangled Threads He Weaves

An embroiderer who grew up poor is a celebrity in demand with collectors and artists

time-read
2 mins  |
December 22, 2024
The New Indian Express Vellore

Untangled Threads He Weaves

An embroiderer who grew up poor is a celebrity in demand with collectors and artists

time-read
1 min  |
December 22, 2024