New Delhi,The Central Reserve Bank (RBI) on Wednesday released the results of its monetary policy review. During this time the policy rate increased. At the same time, RBI Governor Shaktikant Das also announced some new changes and decisions. A new change is taking place in this order. To further increase the reach and use of UPI, the Unified Payments interface in the country, the Reserve Bank of India has now approved the linking of credit cards from the payment system.
With this feature, more people will be able to pay through this app. Until now, users could link their debit card to UPI. With this, they could pay by linking their savings or current account. Giving information about the bi-monthly monetary policy review, Governor Shaktikant Das said that it is proposed to link credit card with UPI.
The credit card will be issued by the National Payments Corporation of India (NPCI) promoted by the RBI. With the development of the system, the facility will become available. Das said that the new system is expected to provide more options and convenience to the customers to pay through the UPI platform. UPI has become a popular medium for payment in the country. About 20 million users and 20 million businessmen are connected to this platform.
Shaktikant Das said that in May, 4.5 crore transactions worth Rs 10.50 lakh crore were transacted through this platform. With the facility to expand the use of prepaid payment products (PPIS), access to PPI has been provided in the UPI payment system for payments.