Credit-Line-on-UPI hands small banks a key to the big lenders' credit-card fortress
Credit-Line-on-UPI was pitched as a financial-inclusion win, but the inclusion has flipped — it's democratised lending for small banks, not the credit-starved. Suryoday Small Finance Bank alone sanctioned ₹362 crore to over 5 lakh customers via Paytm in eight months, compounding 63% month-on-month. Incumbents HDFC, SBI, ICICI and Axis still pocket three-quarters of every card rupee, yet now face the cannibalisation dilemma the new rails hand their rivals.