Bank of Baroda UPI-Linked Overdraft for Women SHG Members
Why in the news
Bank of Baroda rolled out an instant credit line on UPI for women in self-help groups, becoming the first bank in India to offer such a digital micro-credit product.
| Feature | Detail |
|---|---|
| Product | UPI-linked overdraft (OD) facility |
| Limit | Up to ₹5,000 |
| Eligible users | Verified women SHG members |
| Account needed | Pradhan Mantri Jan Dhan Yojana (PMJDY) |
| Use | Emergency and small business needs |
Key facts
- Credit is available instantly through UPI.
- Combines digital payments with micro-credit.
- Focus: rural and financially excluded groups.
Implementation partners
- National Payments Corporation of India (NPCI).
- Indian Banks Association.
- Deendayal Antyodaya Yojana – National Rural Livelihoods Mission.
Exam angle
- Bank: Bank of Baroda; first in India for this product.
- Maximum overdraft: ₹5,000.
- Linked schemes: PMJDY and DAY-NRLM.