Bank of Baroda links digital overdraft accounts to UPI-enabled apps

Women members can link their SHG overdraft accounts to any UPI-enabled app.

India’s Bank of Baroda has launched the Overdraft Facility on Credit Line on UPI for women members of the Self-Help Group (SHG) holding Pradhan Mantri Jan Dhan Yojana (PMJDY) accounts.

With this, women members can access a ₹5,000 overdraft facility and link their SHG overdraft accounts through any UPI-enabled application to access, utilise, and repay their overdraft digitally.

They can also make merchant QR payments through the OD credit lines, as well as view balances and transaction history, according to the Bank of Baroda.

The project enabling Credit Line on UPI for women members of SHG was launched by Shri Shivraj Singh Chouhan, Hon’ble Union Minister of Agriculture and Farmers’ Welfare and Minister of Rural Development in a meeting held at Hyderabad, India.