Source: TOI
Context:
In March 2026, Bank of Baroda introduced a UPI-linked overdraft (OD) facility for verified women Self-Help Group (SHG) members holding accounts under Pradhan Mantri Jan Dhan Yojana. This makes BoB the first bank in India to roll out such a digital micro-credit solution integrated with UPI.
Key Features of the Initiative
1. UPI-Linked Overdraft Facility
- Women SHG members can access instant credit via UPI
- Seamless integration of digital payments and micro-credit
2. Maximum Credit Limit
- Eligible beneficiaries can avail up to â‚ą5,000 overdraft
- Provides quick liquidity for emergency and small business needs
3. Target Beneficiaries
- Verified women SHG members
- Must hold PMJDY bank accounts
- Focus on rural and financially excluded sections
Key Institutional Partners
The initiative has been implemented in collaboration with:
- National Payments Corporation of India
- Indian Banks Association
- Deendayal Antyodaya Yojana – National Rural Livelihoods Mission
