What Is UPI Pre-Sanctioned Credit Line? RBI Issues Circular On Its Operation – Top Speed News
The Reserve Bank of India (RBI) has said the UPI system will also include pre-sanctioned credit lines issued by banks for transactions. Earlier, only the deposited amount could be transacted through the UPI system. In April, the RBI proposed to expand the scope of the Unified Payments Interface (UPI) by enabling transfer to/from pre-sanctioned credit…