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About MSME RuPay Credit Card


Recently, the Ministry of Micro Small and Medium Enterprises (MSME), in association with the National Payment Corporation of India (NPCI) had launched the MSME RuPay Credit Card on a pilot basis, pan-India for Udyam registered MSMEs.


Facts for Prelims

MSME RuPay Credit Card:

  • The MSME RuPay Credit Card is designed to provide a simplified payment mechanism to Micro, Small, and Medium Enterprises (MSMEs) for their business-related operational expenses.
  • This card allows MSMEs to make digital payments, pay utility bills, taxes, and other statutory payments conveniently.
Interest-Free Credit Period:
  •  MSME borrowers using the RuPay Credit Card can benefit from an interest-free credit period for their business spending, subject to the policies set by the issuing bank.
  • This feature allows MSMEs to manage their cash flow more effectively and meet their financial needs without incurring immediate interest charges.
NPCI – National Payments Corporation of India:
  • The National Payments Corporation of India (NPCI) is an umbrella organization responsible for operating retail payments and settlement systems in India.
  •  It was established as a joint initiative of the Reserve Bank of India (RBI) and the Indian Banks’ Association (IBA) under the provisions of the Payment and Settlement Systems Act, 2007.
  • NPCI’s primary goal is to create a robust and efficient Payment & Settlement Infrastructure in India, facilitating secure and seamless electronic transactions for various payment services.

April 2024