No money in the bank? Even then you will be able to make UPI payment, know all the terms and conditions – rbi new policy for upi payment without money check new upi pre approved credit line offer

The Reserve Bank of India has taken a brilliant decision in the Monetary Policy Committee meeting, which is likely to boost UPI payments in the coming days. Actually RBI has announced that even if there is no money in the bank account, you will still be able to make UPI payment. This will be a kind of credit facility, in which you will be able to borrow money from the bank. online payment will change
Please tell that if there is no money in your bank account now, then UPI payment does not happen. But if you have already added some money in the phone wallet, then online payment can be done with its help. However, you have to add this money to your wallet in advance. But in the new facility, if there is no money in both your wallet and bank account, then you will be able to borrow money from the bank.

Credit card hassle will end
If you understand in simple words, then it will be exactly like a credit card facility. Although you will not need any kind of card for this. Users will be able to enjoy the facility like credit card through online mode only. However, for this you will have to pay interest, that too just like a credit card. This means that in the coming days, the hassle of carrying a credit card will be over.

pay money on time
In this facility, users will be able to borrow a fixed amount like a credit card. For this, banks will decide in advance the credit line for each user, how much loan a person will be able to take. Same if you do not pay the dues of Bharat Udar UPI payment within a fixed time, then you will be charged extra interest.