- The step came after the Reserve Bank of India (RBI) permitted the linking of UPI to credit cards in June 2022.
- In this facility, the RuPay credit cards will be linked to a UPI ID or a Virtual Payment Address (VPA) to facilitate payments in an offline mode.
- The bank accounts and debit cards have already been linked to the UPI, this step will link the RuPay debit cards as well.
- Following banks were given the opportunity to go live with UPI on RuPay credit cards via the BHIM App:
- Punjab National Bank,
- Union Bank of India, and
- Indian Bank
- Federal Bank (India) and Lulu Exchange (UAE) were given the permit to go live with Bharat Bill Payment System (BBPS) cross-border bill payments.
- UPI is a real-time payment system in India that was developed and launched by the NPCI in 2016 under the Digital India campaign.
- RuPay is a multinational card payment network that provides financial services and payment service systems. It was developed and launched by the NPCI in 2012.
Question:
Q.1 Recently NPCI launched UPI payments via ______credit card?a. “SimplySAVE” SBI
b. Standard Chartered
c. RuPay
d. American Express
