Now you can also make a credit card from the app for UPI payment. The link will start with Rupay Card.

New delhi date. 8 June 2022, Wednesday

Central Reserve Bank ( RBI )   The results of the monetary policy review were announced on Wednesday . During this time the policy rate increased. At the same time , RBI Governor Shaktikant Das also announced some new changes and decisions .

This order is now undergoing a new change. To further increase the reach and use of UPI i.e. Unified Payments Interface in the country   The Reserve Bank of India has now also approved the linking of credit cards from the payment system.

With this feature , more people will be able to pay through this app. Until now users could link their debit card to UPI. With this , they could pay by linking their savings or current account .

Informing about the bi-monthly monetary policy review , Governor Shaktikant Das said the proposal to link the credit card with UPI would start with the RuPay credit card issued by the RBI -promoted National Payments Corporation of India ( NPCI). The facility will become available with the development of the system.

Das said the new system is expected to give customers more options and convenience to pay through the UPI platform.

UPI for payment in the country Has become a popular medium . About 260 million users and 50 million businessmen are connected to this platform.

Shaktikant Das said that 594.63 crore transactions worth Rs 10.40 lakh crore were transacted through this platform in May . With the facility to expand the use of prepaid payment products ( PPIs), access to PPI has been provided in the UPI payment system for payments.

The RBI has also proposed to increase the recurring payment limit from Rs 5,000 to Rs 15,000.