Karnataka Bank rolls out ‘Credit Line on UPI’ in collaboration with Navi

By Gloria Mathias

Karnataka Bank, a private sector bank, has announced its strategic move into digital financing with the launch of the Credit Line on UPI, an offering by the National Payments Corporation of India (NPCI).

The Bank will be offering Credit Lines through a partnership with Navi, marking Karnataka Bank as one of the early adopters of this next-gen credit product. This is currently provided to a closed group of select users who are pre-qualified for the product, and it will be launched based on more user feedback.

Karnataka Bank seeks to provide its customers with unprecedented flexibility and control over their credit choices. The introduction of Credit Line on UPI is designed to offer convenience and enhance the digital experience for users, aligning with the Bank’s commitment to innovation and customer-centric solutions.

Shri Srikrishnan H, Managing Director & CEO of Karnataka Bank, stated, “Karnataka Bank is thrilled to partner with Navi to bring NPCI’s transformative ‘Credit Line on UPI’. The product provides freedom to credit access and is expected to revolutionize how people pay without cards through UPI. This strategic engagement with Navi will create significant synergies, and the digital offering is unique, bypassing plastic and providing a superior experience for all UPI users.”

Shri Sekhar Rao, Executive Director of Karnataka Bank, added, “We are thrilled to announce the launch of ‘Credit Line on UPI’ in collaboration with Navi. This product is designed to offer flexibility and instant access to funds while maintaining the simplicity and ease of use that UPI is known for. Their expertise in digital lending and innovative financial solutions complements our goal of delivering innovative banking services.”

Sachin Bansal, Chairman, Managing Director & CEO of Navi Technologies, said, “At Navi, we are excited to collaborate with Karnataka Bank to introduce a credit line on UPI that will change the way millions of Indians engage with UPI. We believe that by leveraging the widespread reach and real-time capabilities of UPI, the Credit Line on UPI offering will become the Future of Credit via UPI, enabling millions of underbanked and underserved consumers to access credit seamlessly.”