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Today, we can make payments to anyone from anywhere and also receive payments through Unified Payment Interface.

New Delhi: Of course technology has made our lives easier. From banking to shopping, today we are able to do many of our tasks from home. Similarly, technology has also made money transactions very easy. Today we can make payments to anyone from anywhere and can also receive payments through Unified Payment Interface (UPI). This is the reason why everyone is using UPI today.

In such a situation, many times it happens that you have to make an important payment, but there is not enough money in your bank account. Due to this you are unable to make the payment. In such a situation, the Unified Payment Interface Credit Line platform can help you. This facility was introduced by the Reserve Bank of India only last year. Through UPI credit line, any UPI user can make the necessary payment even if there is no money in the bank account.

The Reserve Bank has started this facility.
The Reserve Bank has allowed giving credit line to customers through UPI. It is worth noting that this will be monitored by the National Payment Corporation of India (NPCI). Let us tell you that many banks like Axis, HDFC, ICIC, Indian Bank and PNB are working on this facility.

It is worth noting that under UPI Credit Line, the user gets a certain amount in the form of credit, which he can use whenever required. Any person can activate this service. This will reduce people's dependence on credit cards.

How to activate UPI credit line?
To activate UPI credit line facility, you will have to apply at the concerned bank branch or through UPI app. During this, you will have to give details of your annual income in the application form, as well as submit the required documents.

It is worth noting that the person applying for UPI credit line should be at least 18 years of age. The applicant must also have Aadhaar and PAN card. After this, the bank will set your credit limit. After getting approval from the bank, you can link it to the UPI application.

After linking to UPI, you can avail the credit line facility. For credit line transactions through UPI app, users will have to set a separate UPI PIN.