Direct Tax
Consulting
ESG Advisory
Indirect Tax
Growth Advisory
Internal Audit
BFSI Audit
Industry Audit
Valuation
RBI Services
SEBI Services
IRDA Registration
AML Advisory
IBC Services
Recovery of Shares
NBFC Compliance
IRDA Compliance
Finance & Accounts
Payroll Compliance Services
HR Outsourcing
LPO
Fractional CFO
General Legal
Corporate Law
Debt Recovery
Select Your Location
RBI has issued a notification dated 04.09.2023 allowing the pre-sanctioned credit lines at Banks through the Unified Payments Interface (UPI). The RBI ha been conferred power under Section 10 (2) r/w Section 18 of the Payment and Settlement Systems Act, 2007 (Act 51 of 2007) to issue such directive.
The Statement issued on Developmental and Regulatory Policies on 06.04.2023 expanded the scope of UPI by enabling transfer to/from pre-sanctioned credit lines at banks. Until now, only savings accounts, overdraft accounts, prepaid wallets and credit cards can be linked to UPI, but now the scope of UPI has been expanded by including credit lines as funding accounts. Under this facility, payments through a pre-sanctioned credit line issued by a Scheduled Commercial Bank to individuals, with the prior consent of the individual customer, are enabled for transactions using the UPI System. As per the approved Board policy, Banks may stipulate terms and conditions of use of such credit lines. The terms may include the credit limit, period of credit, rate of interest, etc.
Did you or anybody in your family invest in Axis Bank Limited shares during the 1990s or early...
The Pharmaceutical industry is India's top gross domestic product (GDP) contributor. The market...
In the evolving international trade space, ensuring supply chain security and compliance with t...
Investment in shares of big public sector companies such as Coal India Limited (CIL) provides l...
The Securities and Exchange Board of India (SEBI) issued a circular on May 2, 2025, simplifying...
Are you human?: 9 + 9 =
Easy Payment Options Available No Spam. No Sharing. 100% Confidentiality
The Union Minister of Finance in the budget of 2022-23 made one of the expected announcements of India’s own digi...
08 Mar, 2022
The Reserve Bank of India issued a notification on 23rd March 2020 regarding the Priority Sector on-Lending by NBFC...
27 Dec, 2021