Banks look to start credit line on UPI for small value loans

After a prolonged delay, credit lines on the Unified Payments Interface (UPI) could finally see consumer adoption, with some of the high-street banks opening up to the product for disbursing small-value loans.

“Banks are looking to go after new-to-bank customers, by offering them small credit lines via popular UPI apps, that is how the product will take the first steps,” said the founder of a fintech firm, requesting anonymity.

New-to-bank customers are those who are not existing clients of a bank but could be acquired through the UPI channel….