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What Is Pre-Sanctioned Credit Line Through UPI And How Will It Work

What Is Pre-Sanctioned Credit Line Through UPI And How Will It Work

Sakshi Batra
Sakshi Batra
  • New Delhi ,
  • Apr 7, 2023,
  • Updated Apr 7, 2023, 6:19 PM IST

 

RBI governor Shaktikanta Das recently announced a new measure where users of the unified payments interface (UPI) can avail of a pre-sanctioned credit line through banks. In other words, users or borrowers can avail of funds from a bank-approved credit line through UPI. This was among the major announcements made at the first monetary policy review of the fiscal year 2023-24. Here is an explainer to understand the development in detail.

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