Union bank

Union Bank launches MSME RuPay credit card

The Union Bank of India (UBI), in association with the National Payments Corporation of India (NPCI), on Friday launched the “Union MSME RuPay Credit Card” to cover business-related operational expenses of Micro, Small and Medium Enterprises (MSME). This card comes with interest-free credit for up to 50 days.

“The dedicated MSME card is available to eligible borrowers from Union Bank of India…The card also provides EMI facility to customers for their business-related purchases,” the public sector bank said in a statement. communicated.

MSMEs will also benefit from specially selected business services on this card, which will help them to develop their businesses on most digital platforms, according to the statement.

Additionally, MSME customers will enjoy accident insurance cover of up to ₹10 lakh, access to domestic airport lounge of 2 per quarter and other rewards, the bank said.

Nidhu Saxena, Executive Director, UBI, said the card will help improve the digital distribution channel to serve MSME customers.

“This credit card will reduce the demand for cash withdrawal by MSMEs for business expenses besides simplifying their payment mechanism,” he said.

Published on

February 25, 2022