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Finance Minister Urges PSU Banks to Boost Credit Growth, Maintain Profits

  Finance Minister Nirmala Sitharaman, in a meeting with heads of Public Sector Banks (PSBs) on Friday, urged them to leverage the Reserve Bank of India’s recent  50 basis points rate cut  to accelerate lending towards the productive sectors of the economy. Sources reported that the Finance Minister asked PSBs to maintain the profitability momentum in  FY26 , building on their strong performance last year. The cumulative net profit of 12 PSBs surged to  Rs 1.78 lakh crore in FY25 , marking a 26% rise compared to the previous fiscal. In absolute terms, this meant a profit increase of about  Rs 37,100 crore . Sitharaman also emphasised the importance of financial inclusion, directing banks to onboard more customers under government schemes to ensure broader credit outreach. On  June 6 , the RBI’s monetary policy committee, led by Governor Sanjay Malhotra, cut the benchmark repo rate by  50 basis points to 5.5% . The minister highlighted that PSBs sh...
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RBI to Introduce Auto-Replenishment for UPI Lite Wallets: What Users Should Know

RBI expands priority sector lending ...

The Reserve Bank of India (RBI) is set to enhance the UPI Lite wallet system by introducing an auto-replenishment feature. This update will allow UPI Lite wallets to automatically top up if their balance falls below a user-defined threshold.

What is UPI Lite?

UPI Lite, which was launched by the National Payments Corporation of India (NPCI) in September 2022, allows users to make transactions of up to Rs 500 without needing a PIN. This feature aims to simplify and speed up transactions, and currently, the maximum balance that can be held in a UPI Lite wallet is Rs 2,000.

How Will Auto-Replenishment Work?

Under the new auto-replenishment facility, users can set a minimum balance threshold for their UPI Lite wallet. For example, if a user sets a floor limit of Rs 500 and their balance drops below this amount, the wallet will automatically be topped up with Rs 2,000, which is the maximum allowable balance for UPI Lite.

Availability and Integration

UPI Lite is supported by various payment apps including Paytm, BHIM App, and Google Pay, and is integrated with banks like Canara Bank, HDFC Bank, Indian Bank, Kotak Mahindra Bank, Punjab National Bank, State Bank of India, and Union Bank of India, among others.

This new auto-replenishment feature aims to streamline the user experience by ensuring that funds are always available for quick transactions, reducing the need for manual topping up of the wallet.

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