With this, SCNL has become the first player in the micro-finance segment to go live on this unique functionality that promotes cashless transactions. This will also be the first time that customers can pay their loan EMIs, via the UPI platform.HSBC
With this, SCNL has become the first player in the micro-finance segment to go live on this unique functionality that promotes cashless transactions. This will also be the first time that customers can pay their loan EMIs, via the UPI platform.HSBC
UPI AutoPay debuts into MFI segment with Satin Creditcare
By IANS |
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. Online payment. (File Photo: IANS). Image Source: IANS News
Mumbai, June 2 : Microfinance institution Satin Creditcare Network Ltd (SCNL) has further digitised its payment landscape, allowing loan EMI payments by customers through UPI AutoPay.
With this, SCNL has become the first player in the micro-finance segment to go live on this unique functionality that promotes cashless transactions. This will also be the first time that customers can pay their loan EMIs, via the UPI platform.
HSBC India is a banking partner to Satin Creditcare in this initiative. By associating with Satin Creditcare, HSBC India has become the only international bank part of the UPI AutoPay platform.
UPI AutoPay debuts into MFI segment with Satin Creditcare Network equitybulls.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from equitybulls.com Daily Mail and Mail on Sunday newspapers.
Financials stocks were trading in green, with the S&P BSE Finance index increasing 115.06 points or 1.55% at 7538.27 at 09:49 IST. Among the components of the S&P BSE Finance index, Angel Broking Ltd (up 4.99%), Karnataka Bank Ltd (up 4.54%),Indiabulls Housing Finance Ltd (up 3.99%),IndusInd Bank Ltd (up 3.3%),JM Financial Ltd (up 3.01%), were the top gainers. Among the other gainers were SBI Cards & Payment Services Ltd (up 2.97%), CSB Bank Ltd (up 2.82%), Equitas Small Finance Bank Ltd (up 2.82%), Piramal Enterprises Ltd (up 2.71%), and Shriram City Union Finance Ltd (up 2.62%). On the other hand, Centrum Capital Ltd (down 0.65%), Pilani Investment & Industries Corporation Ltd (down 0.5%), and Satin Creditcare Network Ltd (down 0.48%) turned lower.