Go Unlimited with Magzter GOLD
Get unlimited access to 9,500+ magazines, newspapers and Premium stories for just
Try GOLD - Free
UPI enables expansion of credit among underserved borrowers: Study
The Morning Standard
|December 09, 2024
UNIFIED Payments Interface (UPI) has enabled underserved borrowers to access formal credit for the first time as loans to new-to-credit borrowers in regions with high UPI adoption have increased by 4% and to subprime borrowers by 8%, according to a study.
-
Titled Open Banking and Digital Payments: Implications for Credit Access, the study points out that the UPI, since its launch in 2016, has enabled 300 million individuals and 50 million merchants to perform seamless digital transactions.
It points out that the average size of a fintech loan was ₹27,778, which is about seven times the rural monthly expenditure.
This story is from the December 09, 2024 edition of The Morning Standard.
Subscribe to Magzter GOLD to access thousands of curated premium stories, and 9,500+ magazines and newspapers.
Already a subscriber? Sign In
MORE STORIES FROM The Morning Standard
The Morning Standard
Sharma, Gill hand India easy win
Openers add 105 runs inside 10 overs as SKY & Co thrash Pakistan by six wickets
2 mins
September 22, 2025
The Morning Standard
Trump ends govt's annual report on hunger in US
THE Trump administration is ending the federal government's annual report on hunger in America, stating that it had become \"overly politicised and rife with inaccuracies.\"
1 min
September 22, 2025
The Morning Standard
Hyderabad metro plans presented to L&T
IN the wake of L&T raising objections to integrating the Hyderabad Metro Phase-2 expansion with the existing network, the state government is working to resolve the issue.
1 mins
September 22, 2025
The Morning Standard
Sabarimala back in political spotlight
SABARIMALA, the hill shrine revered by millions, has once again taken the centre stage in Kerala's political discourse.
1 mins
September 22, 2025
The Morning Standard
Netflix's Ransom Canyon Season 2 adds to the cast
NETFLIX has announced that the second season of Ransom Canyon willfeature additional cast members. Joining season two of the romantic drama are Ben Robson and Heidi Engerman.
1 min
September 22, 2025
The Morning Standard
5 foreign nationals who sneaked in through Nepal border nabbed in Bihar
FIVE foreign nationals, including four from Sudan and one from Bolivia, were arrested near the India-Nepal border in Bihar's East Champaran district, officials said on Sunday.
1 mins
September 22, 2025
The Morning Standard
Will Golden Visa benefit Indian HNIs?
US President Donald Trump's latest immigration initiative, Golden Visa, unveiled on September 19, could ease the path for Indian corporates and high-net-worth individuals to settle in the US despite criticism that it is a pro-rich policy, say legal experts. Entrepreneurs and businesses aiming to tap the US market can now set up operations more easily in that country.
1 mins
September 22, 2025
The Morning Standard
Exploring 'smog-eating' technology to combat air pollution, says minister
THE Delhi government will conduct a time-bound study on \"smog-eating\" photocatalytic coatings, a technology designed to neutralise harmful gases like nitrogen dioxide and volatile hydrocarbons that contribute to the capital's toxic air, Environment Minister Manjinder Singh Sirsa announced on Sunday.
1 mins
September 22, 2025
The Morning Standard
US lawmakers seek military dialogue amid trade, Taiwan tensions in China
A bipartisan group of US lawmakers pushed for more military-to-military dialogue in a meeting on Sunday with China's Premier Li Qiang, a rare congressional visit since the US-China relations soured.
1 mins
September 22, 2025
The Morning Standard
Israel kills over 40 in Gaza, Lebanon ahead of UN meeting on Palestine
ISRAELI strikes in Gaza City and at a refugee camp killed more than 40 people, including 19 women and children, health officials said on Sunday, as several European countries and leading US allies moved to recognise a Palestinian state.
1 min
September 22, 2025
Listen
Translate
Change font size