What is the new UPI overdraft facility launched by Bank of Baroda?

Bank of Baroda has introduced a UPI overdraft facility on Credit Line for verified women Self-Help Group (SHG) members, allowing digital access to credit.

How much credit can women SHG members access via UPI?

Eligible women SHG members can digitally access up to ₹5,000 in credit through this new overdraft facility.

Which account holders are eligible for Bank of Baroda's UPI overdraft?

Eligible beneficiaries who hold Pradhan Mantri Jan Dhan Yojana (PMJDY) accounts can avail of this digital credit facility.

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 Empowers Women with UPI Overdraft

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.

Disclaimer: This story has been auto-aggregated and auto-summarised by a computer program. This story has not been edited or created by the Feedzop team.