Global Fintech Fest 2026: DFS Secretary Sanjay Lohiya unveils UPI credit for KCC, MUDRA borrowers
At the Global Fintech Fest 2026, DFS Secretary Sanjay Lohiya launched a new facility enabling eligible Kisan Credit Card (KCC) and PM MUDRA Yojana borrowers to utilize their sanctioned credit limits for merchant payments via UPI. This initiative is designed to broaden digital access to formal credit for farmers and small businesses. More banks are anticipated to join the platform, expanding its reach and utility.
What this means
This move integrates formal credit into the widely adopted UPI ecosystem, enhancing convenience for underserved segments. It will likely boost digital transactions and potentially improve credit utilization among KCC and MUDRA beneficiaries, pushing financial inclusion.
Most affected: Agricultural and MSME lending, Digital Payments
Key takeaway: Explore integrating UPI credit functionalities to cater to KCC and MUDRA borrowers and tap into the growing demand for digital small-ticket credit.
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