RBI Proposes Expanding Reach of UPI to Allow for Credit via Pre-Approved Bank Lines
The Reserve Bank of India (RBI) is proposing expanding the reach of the popular Unified Payments Interface (UPI) digital payments system by allowing credit to be offered via pre-approved bank lines. “This initiative will further encourage innovation,” RBI governor Shaktikanta Das said on Thursday during the announcement of the central bank’s monetary policy decision. UPI … Read more