National Current Affairs
Bank of Baroda Launches UPI-Based Credit Line for Women SHGs
- 26 Mar 2026
- 2 min read
Why in News?
The Bank of Baroda has introduced an overdraft facility on Credit Line via UPI for women Self-Help Group (SHG) members, becoming the first bank in India to launch such a feature to promote digital financial inclusion.
Key Points
- About: The initiative enables eligible beneficiaries (women SHG members) who hold Pradhan Mantri Jan Dhan Yojana (PMJDY) accounts to access and avail a ₹5,000 overdraft digitally.
- The initiative has been launched in collaboration with the National Payments Corporation of India (NPCI), Indian Banks’ Association (IBA), and the Deendayal Antyodaya Yojana – National Rural Livelihoods Mission (DAY-NRLM).
- Objective: The facility aims to expand access to formal credit for rural women, strengthen financial inclusion, and support women-led economic empowerment.
- Benefits: Provides instant digital credit access to women SHG members, promoting financial inclusion, easy transactions via UPI, and support for small financial needs.
- Policy Alignment: The initiative aligns with national programmes such as Digital India, PMJDY, and DAY-NRLM.
| Read More: PMJDY, DAY-NRLM, Digital India, UPI, NPCI, SHG |
