Bengaluru : Karnataka Bank, headquartered in Mangaluru, has announced a strategic partnership with Bengaluru-based Navi Technologies Limited to roll out a Credit Line on UPI. This initiative, launched under the aegis of the National Payments Corporation of India (NPCI), represents an early adoption of the next-generation credit product in India’s financial landscape.
The Credit Line on UPI will allow customers to access short-term credit directly through the UPI platform, enhancing the convenience and accessibility of digital financial services. Initially, the offering is limited to a closed group of pre-qualified users, with plans to gradually expand its availability based on user feedback and demand.
Karnataka Bank’s current offering focuses on a short-term monthly loan product. However, the bank is exploring options to introduce other variants, such as EMI facilities and Working Capital Credit Lines, in the future. This initiative aligns with Karnataka Bank’s strategy to diversify its product portfolio and meet the evolving needs of its customers through innovative financial solutions.
