Home / Business and Economy / Bank of Baroda Empowers Women with UPI Overdraft
Bank of Baroda Empowers Women with UPI Overdraft
23 Mar
Summary
- Women SHGs can now access ₹5000 credit digitally.
- Overdraft facility is accessible via UPI on Credit Line.
- PMJDY account holders are eligible for this service.
Bank of Baroda has made history by introducing an overdraft (OD) facility on Credit Line via UPI specifically for verified women Self-Help Group (SHG) members. This groundbreaking feature allows eligible women, who hold Pradhan Mantri Jan Dhan Yojana (PMJDY) accounts, to digitally access a credit line of up to ₹5,000.
The bank's initiative is a significant step towards enhancing financial inclusion and expanding credit access for self-help groups across the nation. Eligible SHG members can now seamlessly link their overdraft accounts to any UPI-enabled application.
This digital integration empowers members to instantly avail funds, conduct merchant QR payments, and monitor their account balances and transaction history. The new system is designed to provide a convenient and pleasant user experience, eliminating the need for physical branch visits for these essential banking services.
