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      Question

      Which financial institutions can now offer pre-approved

      credit lines on UPI, as per RBI's latest update?
      A Public sector banks Correct Answer Incorrect Answer
      B Private banks Correct Answer Incorrect Answer
      C Foreign banks Correct Answer Incorrect Answer
      D Small finance banks (SFBs) Correct Answer Incorrect Answer
      E Payment banks Correct Answer Incorrect Answer

      Solution

      RBI has expanded UPI transactions by allowing small finance banks (SFBs) to offer pre-approved credit lines as an additional funding source. This move simplifies transactions by integrating credit, overdrafts, and retail loans with UPI, enhancing accessibility for SFB customers.

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