Current Affairs - Banking - Discussion

The new UPI feature ‘Pay with Mutual Fund’ enables users to make instant transactions directly from their liquid mutual fund holdings. Instead of transferring money to a bank account before payment, the system instantly redeems the required amount from the mutual fund and processes it in real time through UPI. This innovation bridges investment and payment systems, offering both liquidity and higher returns compared to traditional savings accounts. Backed by ICICI Prudential AMC, Bajaj Finserv AMC, and Curie Money, it marks a global first for India in fintech, revolutionizing how digital transactions integrate with personal investments.