 "UPI, UPI payments, UPI payment")
Over 40 per cent of Indians are estimated to have limited or no access to formal credit. National Payments Corporation of India (NPCI), which operates the Unified Payments Interface (UPI), launched the Credit Line on UPI (Clou) in 2023 to help bridge this gap. This had been designed to make credit as frictionless as digital payments, allowing users to access a pre-approved credit line directly through their UPI app. As reported by this newspaper, nearly two years later, the adoption has remained limited because banks and fintech companies remain uncertain about its treatment and reporting requirements. Without course
Disclaimer: These are personal views of the writer. They do not necessarily reflect the opinion of www.business-standard.com or the Business Standard newspaper
