Axis Bank Partners with Freecharge to Launch India’s First Gold-Backed Credit Line on UPI.

In September 2025, Axis Bank, a private sector bank, in partnership with Freecharge, launched India’s first gold-backed credit line on UPI (United Payments Interface), following NPCI (National Payments Corporation of India) guidelines. The initiative aims to simplify working capital access, business growth financing, and urgent liquidity needs for customers.

      - The credit line is designed for MSMEs (Micro, Small, Medium Enterprises), self-employed individuals, and merchants, allowing them to leverage their gold holdings for instant and flexible credit.

      - The product enables users to unlock the economic potential of their gold assets, providing a convenient and accessible financing option for small businesses and entrepreneurs.

Main Point :-   (i) Gold-backed credit on UPI allows users to access overdraft facilities digitally, with interest charged only on the utilized amount, ensuring cost-effective borrowing.

      (ii) Customers can make payments and repay loans in real time via UPI or Freecharge, eliminating the need to visit a bank branch after onboarding and enhancing digital convenience.

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