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.