PNB, Indian and Union Bank Account Holder Must Read This News

rbi new guidelines

New Bank Rule: If your account is in Punjab National Bank (PNB), Union Bank of India, or Indian Bank, then this news can prove to be happy for you. A big announcement has been made by RBI Governor Shaktikanta Das for the account holders and credit card users of these banks. Recently, at the Global Fintech Festival, the RBI Governor launched the Rupee Credit Card on the UPI network. After this, the credit card holders will have fun.

UPI will be linked with Rupay credit card

All government banks are providing facilities to all debit card holders to link UPI with their accounts. RBI has earlier provided this facility to Punjab National Bank (PNB), Union Bank of India, and Indian Bank. Has announced to give to the customers of the bank (Indian Bank). After this, this facility will also be provided to private banks.

The scope of the credit ecosystem will increase

The National Payment Corporation of India (NPCI), which developed UPI, said that using this app will now benefit both the customer and the merchant. If you now want to take any item from a grocery store, then by scanning the UPI QR Code, you will be able to pay for it with a credit card as well. Till now there was a facility to make payments by linking a bank account with the UPI app. But linking RuPay Credit Card with UPI will provide great convenience to the consumers, which will increase the scope of the credit ecosystem. The RuPay Credit Card will be linked to a virtual payment address, which will be completely secure.

Cross border transaction facility also started

Apart from Rupay Credit Card, UPI Lite was also launched. This on-device wallet will prove to be very helpful for all the low-cost transactions you want to do. Cross border transaction facility has also been started under Bill Payment System (BBPS). Through UPI Lite, you will be able to make payments without the internet. You can use it to pay only Rs.200. With the cross-border bill payment system, you will be able to pay bills in India while living abroad.

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