Karnataka Bank Launches Credit Line on UPI with Navi Partnership

Karnataka Bank Ltd has announced the launch of its Credit Line on UPI, a groundbreaking initiative by the National Payments Corporation of India (NPCI).

In partnership with Navi, Karnataka Bank is among the first to adopt this innovative credit product. Currently available to a select group of pre-qualified users, the Credit Line on UPI will expand based on customer feedback.

This new offering aims to provide unparalleled convenience and enhance the digital banking experience, aligning with the Bank’s focus on innovation and customer-centric solutions. Initially, the Credit Line will feature a short-term monthly loan product, with plans to introduce additional variants such as EMI facilities and Working Capital Credit Lines in the future.

Commenting on this significant milestone, the Managing Director and CEO of Karnataka Bank, Shri Srikrishnan H, said, “Karnataka Bank is thrilled to partner with Navi to bring NPCI’s transformative ‘Credit Line on UPI’. The product provides freedom to credit access and is expected to revolutionise how people pay without cards through UPI. This strategic engagement with Navi will create significant synergies and the digital offering is unique bypassing plastic, providing a superior experience to all UPI users.”

Shri Sekhar Rao, Executive Director of Karnataka Bank, stated, “We are thrilled to announce the launch of ‘Credit Line on UPI’ in collaboration with Navi. By integrating a credit line directly into the UPI ecosystem, we are making it easier than ever for our customers to access credit in a secure and convenient manner.”

He further added, “This product is designed to offer flexibility and instant access to funds, all while maintaining the simplicity and ease of use that UPI is known for. Our partnership with Navi has been instrumental in bringing this vision to life. Their expertise in digital lending and innovative financial solutions complements our goal of delivering innovative banking services. Together, we are setting a new standard for how credit can be accessed and managed in the digital age.”

Sachin Bansal, Chairman, Managing Director and CEO of Navi Technologies Ltd, said, “At Navi, we are excited to collaborate with Karnataka Bank to introduce Credit Line on UPI that will change the way millions of Indians engage with UPI. Today, UPI has transformed digital payments, becoming the preferred mode of payment for the majority of Indians. We believe that by leveraging the widespread reach and real-time capabilities of UPI, the Credit Line on UPI offering will become the Future of Credit via UPI, enabling millions of underbanked and underserved consumers to access credit seamlessly.”

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