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Bank of Baroda has introduced a credit line facility on the Unified Payments Interface (UPI) platform for women self-help group members holding Pradhan Mantri Jan Dhan Yojana accounts, enabling overdraft access of INR 5,000 without branch visits. The facility allows direct merchant payments and has been rolled out in collaboration with institutions including NPCI and the Indian Banks Association. In parallel developments, Tata Consultancy Services has extended its technology partnership with Swissport for five years, while the Reserve Bank of India has approved the amalgamation of Lalbaug Co-operative Bank with Akhand Anand Co-operative Bank. The updates reflect ongoing digital banking expansion, consolidation in the co-operative banking sector, and continued enterprise technology partnerships.
Bank of Baroda has launched a credit line facility on the Unified Payments Interface (UPI) platform for women self-help group members, enabling access to small-ticket overdrafts directly through digital channels, the bank announced in the past week. The initiative allows eligible customers holding Pradhan Mantri Jan Dhan Yojana accounts to avail an overdraft facility of up to INR 5,000 without visiting a branch, and use the funds to make payments to merchants through UPI. Advertisement
The bank stated that the facility has been introduced in collaboration with multiple institutions, including the National Payments Corporation of India (NPCI) and the Indian Banks Association (IBA). It added that it is the first lender to operationalise such a credit-linked UPI offering targeted at women self-help group members, reflecting a focus on financial inclusion through digital platforms.
The integration of credit facilities with UPI is expected to expand access to formal credit for underserved segments, particularly in rural and semi-urban areas, by simplifying the borrowing process and enabling real-time transactions. The move aligns with broader efforts to deepen digital payment ecosystems while extending credit access to individuals with limited banking engagement.
In a separate development, Tata Consultancy Services (TCS) has extended its partnership with Swissport, a global aviation services provider, for an additional five years. TCS has been working with Swissport for around a decade and will continue to support the modernisation of the company's technology infrastructure. The scope of work includes scaling artificial intelligence-enabled services, enhancing data platforms, and managing hybrid cloud operations.
The extension of the partnership indicates continued demand for technology-led transformation in the aviation services sector, where operators are increasingly relying on digital platforms to improve operational efficiency and customer experience.
Meanwhile, the Reserve Bank of India (RBI) has approved the voluntary amalgamation of Lalbaug Co-operative Bank with Akhand Anand Co-operative Bank. As per the approval, all branches of Lalbaug Co-operative Bank will function as branches of Akhand Anand Co-operative Bank starting March 23.
The consolidation is part of ongoing efforts to strengthen the co-operative banking sector through mergers and restructuring, aimed at improving financial stability and operational efficiency. Such amalgamations are typically undertaken to address financial or operational challenges and to create stronger banking entities.
The three developments collectively reflect ongoing changes across India's financial and technology landscape, including digital credit expansion, enterprise technology partnerships, and regulatory-driven consolidation within the banking sector.
Source - PTI
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