Mumbai. The usage of credit cards on Unified Payment Interface (UPI) has crossed the Rs 10,000 crore mark on a monthly basis. This information has been given by the CEO of NPCI.
UPI is part of India's Digital Public Infrastructure (DPI).
Dilip Asbe, CEO and Managing Director, National Payments Corporation of India (NPCI), said that credit card spends through UPI have reached Rs 10,000 crore per month.
The CEO of NPCI said that people are using the credit line facility on UPI account a lot and its figure has reached between 100 to 200 crores.
He further said that the facility of Credit Line UPI on the UPI platform is being offered by 6 banks. ICICI Bank is leading this.
NPCI launched the 'Credit Line on UPI' facility last year. Its purpose was to provide small loans to people and businesses.
Apart from ICICI Bank, Axis Bank, HDFC Bank, Indian Bank, Punjab National Bank (PNB), State Bank of India (SBI) are offering credit line facility on UPI platform.
At the same time, you can avail this facility on digital platforms like BHIM, Google Pay, Paytm, PayZapp, Navi and Tata New.
You can easily transact by linking RuPay credit card to UPI. Currently, 16 banks on the UPI platform are providing the facility of linking RuPay credit card to UPI.
UPI transactions grew 35 percent yearonyear to Rs 20.64 lakh crore in July from Rs 20.07 lakh crore in June. The number of UPI transactions grew 4 percent monthonmonth to 14.44 billion in July from 13.89 billion in June.
The average number of transactions per day in July was 46.6 crores, which was 46.3 crores in June. At the same time, the average value of transactions per day was Rs 66,590 crore in July. This shows that people in the country are rapidly adopting digital payments.
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– / Written By Top News Bulletin
Image Credit: KhasKhabar.