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Union Bank launches Union MSME RuPay Credit Card | Daily Current Affairs Dose

Union Bank launches Union MSME RuPay Credit Card | Daily Current Affairs Dose

Dear Aspirants, EducationBro is here with a Daily Current Affairs Dose. In this session, we will make the candidates aware of the daily current affairs topics, which will improve their general awareness, while also taking care that the candidates should not have any shortage of trending current affairs related to any country and abroad. Today’s Current Affairs topic is Union Bank launches Union MSME RuPay Credit Card.

Our Daily Current Affairs Dose 2022 will help you to crack the General Awareness section of Banking Insurance SSC Railway UPSC and all government jobs exams.

Union Bank launches Union MSME RuPay Credit Card | Daily Current Affairs Dose

Union Minister for Micro, Small & Medium Enterprises, Narayan Rane launched the Union MSME RuPay Credit Card of Union Bank of India.

The Union MSME RuPay Credit Card is being offered by Union Bank of India in association with National Payments Corporation of India (NPCI). It provides a simplified payment mechanism to MSMEs to meet their business-related operational expenses.

Union MSME RuPay Credit Card Benefits

The RuPay Card offers benefits like anytime digital payments, interest-free period and will carry interest rate similar to the rate charged for loans. MSME borrowers will be able to enjoy an interest-free credit period of up to 50 days on their business spends. 

Read Also: RBI appoints Deepak Kumar as new Executive Director | Daily Current Affairs Dose

The Union MSME RuPay Credit Card also offers the EMI facility to the customers on their business-related purchases. MSMEs will also get specially curated efficient business services on this card which will help them in taking their business on most of the digital platforms.

The RuPay Credit card will simplify and expedite payment mechanism for MSMEs while enabling banks to monitor the transactions at granular level. The Credit card will also reduce the demand for cash withdrawal by the businesses due to availability of the digital payment tool.

Other benefits include accidental insurance coverage, lounge access, and other rewards being offered by NPCI on RuPay cards. Besides this, the card offers a variety of additional features and business services for the MSMEs.

Important facts for upcoming exams from the above Current Affairs Topic

  • Full form of MSME: Ministry of Micro, Small and Medium Enterprises
  • Headquarters of MSME Ministry: New Delhi
  • Responsible minister of MSME Ministry: Narayan Rane, Cabinet Minister and Bhanu Pratap Singh Verma, Minister of State

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