Current Affairs - Banking - Discussion

Bank of Baroda introduced India’s first UPI-linked overdraft facility specifically designed for Women Self-Help Group members, marking a major step in financial inclusion. The initiative allows eligible users to access instant credit of up to ₹5,000 digitally without visiting a bank branch. Integrated with Pradhan Mantri Jan Dhan Yojana accounts, the facility enables seamless transactions through UPI apps. Developed in collaboration with NPCI, IBA, and DAY-NRLM, it promotes digital payments, enhances financial accessibility for rural women, and helps them build a formal credit history for future financial opportunities.