Now UPI Payment Can Be Done Through Credit Card

Now people will be able to make UPI payments through credit cards in the country. On Wednesday, India's central bank Reserve Bank of India Governor Shaktikanta Das announced the results of the Monetary Policy meeting. During this, he told that the repo rate has been increased by 0.50 percent.

Thereafter, the policy rates increased from 4.40 percent to 4.90 percent. Along with this, the RBI Governor has also made big announcements regarding credit cards and cooperative banks. RBI has proposed to allow the integration of credit cards with the Unified Payments Interface (UPI) platform. Governor Shaktikanta Das has said that initially the RuPay Credit Card will be linked to the UPI platform, which will provide additional convenience to the users and this will increase the scope of digital payments.

It is worth noting that at present UPI users provide the facility of transactions by linking savings or current accounts through debit cards of UPI users. UPI has become the most inclusive mode of payment in India with over 260 million unique users and 50 million merchants on the platform.