The National Payments Corporation of India (NPCI) reported a significant rise in Unified Payments Interface (UPI) credit transactions, reaching Rs 10,000 crore per month. The increase is largely driven by the credit card feature launched in November 2022, allowing users to link credit cards for monthly payments. About Rs 200 crore is disbursed monthly via pre-sanctioned credit lines on UPI. ICICI Bank leads in offering this facility. UPI saw 466 million transactions in July. This growth highlights UPI’s expanding role, potentially boosting related financial stocks and sectors.
UPI Credit Disbursement Hits Rs 10,000 Cr Monthly
