Slice UPI-Enabled Bank Branch Opens in Bengaluru

Why in the news

Slice, a fintech company, set up a bricks-and-mortar branch in Koramangala, Bengaluru that is built around UPI, calling it a first for India.

Key facts

• The branch has UPI-integrated ATMs and instant account opening.
• Cash can be put in or taken out using UPI apps, so no debit card is needed.
• Alongside it, Slice introduced a UPI-linked credit card with zero joining and annual fees; QR payments draw directly from the credit line.

Significance

• The branch is a pilot that could lead to wider rollout of UPI-driven physical branches across the country.

Exam angle

• Company: Slice; place: Koramangala, Bengaluru.
• Key idea: cardless cash transactions through UPI.