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New Delhi: Many times an important payment has to be made, but due to lack of sufficient money in the bank account it is not possible. But now it is possible that even if there is no balance in the bank account, you can make payment through Unified Payment Interface (UPI). Actually, the Reserve Bank of India had launched the UPI credit line platform last year. Under which any UPI user can make necessary payments through UPI even if there is no money in the bank account.

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The central bank has also allowed giving credit lines to customers through UPI and this will be monitored by the National Payment Corporation of India. Many banks including Axis Bank, HDFC, ICICI, Indian Bank and PNB are working on this new facility. Let us tell you that this is a fixed amount of credit which you can use as and when needed. Anyone can activate it. In such a situation, people’s dependence on credit cards will reduce.

How to activate UPI credit line?

Step 1: To activate the UPI credit line facility, you can apply at the concerned bank branch or through the UPI app. During this time, you will have to give details of your annual income in the application form and also submit the necessary documents.

Step 2: The person applying for UPI credit line must be at least 18 years of age. Apart from this, it is also necessary to have Aadhaar and PAN card.

Step 3: After this, the bank where you have applied for the credit line will set your credit limit. After getting approval from the bank, you can link it to the UPI application.

Step 4: Once linked to UPI, you can avail the credit line facility as and when you need it. Let us tell you that you will get a limit for transactions with merchants.

Please note that for credit line transactions through the UPI app, users must set a separate UPI PIN.