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MUMBAI: The old joke about bankers was that they would lend you an umbrella when the sun was shining. Following the pushback against the surge in unsecured loans, that is what banks are doing, lending to customers who already have the resources. However, many customers are taking personal loans despite having savings, given the convenience…
Cash withdrawals via smartphones are set to become more widely accessible in India, as plans are underway to extend the unified payments interface (UPI)-based withdrawal facility beyond ATMs to over 2 million business correspondents (BCs) nationwide.Currently, UPI-driven cardless withdrawals are limited to UPI-enabled ATMs and a small number of merchants, who can disburse only Rs…
