Karnataka Bank, a prominent private sector bank based in Mangaluru, announced its innovative step into digital finance with the launch of its Credit Line on UPI, an advanced solution developed by the National Payments Corporation of India (NPCI).
Through a strategic alliance with Navi, Karnataka Bank becomes one of the first to offer this cutting-edge credit product. Initially available to a select group of pre-qualified users, the service will expand based on customer feedback.
The Credit Line on UPI is designed to provide exceptional convenience and enhance the digital experience, reflecting the bank’s dedication to innovation and customer-focused solutions.
The Bank is initially launching a short-term monthly loan product and is exploring the addition of other variants, such as EMI facilities and Working Capital Credit Lines, to meet evolving customer needs.
Shri Srikrishnan H, Managing Director & CEO of Karnataka Bank, shared his enthusiasm about this milestone: “Karnataka Bank is excited to collaborate with Navi to introduce NPCI’s groundbreaking ‘Credit Line on UPI’. This innovative product offers unprecedented freedom in credit access and is set to transform payment methods by eliminating the need for cards. Our strategic partnership with Navi is expected to create significant synergies, delivering a superior digital experience for all UPI users.”