Question

What is a key benefit of RBI allowing pre-approved

Q: Answer-What is a key benefit of RBI allowing pre-approved credit lines on UPI?

The RBI has allowed pre-approved credit lines on UPI, but users must provide explicit consent before accessing the credit line, ensuring transparency and control over borrowing.

credit lines on UPI?

A Customers must apply for loans separately before using credit lines

B The feature is only available to corporate users, not individuals

C Users need explicit consent before accessing the credit line

D This feature removes the need for credit limits set by banks

E The National Payments Corporation of India (NPCI) does not support this initiative

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Relevant for Exams:

CBI Credit Officer (Scale 1)

Central Bank of India (CBI) Credit Officer

What is a key benefit of RBI allowing pre-approved

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