Punjab National Bank has taken steps to make the loan EMI payment easier for its customers. The bank has given customers the option to pay EMI through UPI through GPay, PhonePe and Paytm.
Punjab National Bank (PNB) has now given the option of paying EMIs using GPay, PhonePe and Paytm to its borrowers to make payment of loan amount easier . “No more running around depositing checks to pay off your loans. Pay your EMIs through UPI with GPay , PhonePe and Paytm,” PNB tweeted .PNB gives customers the option of paying EMI through UPI
PNB said that it is now possible to repay the loan through the phone. The bank said that to repay the loan installment, use BHIM and other BBPS supported apps like Google pay, Paytm, PhonePe etc. The customer will be able to validate his loan account name and amount before making the payment. Bank said that partial payment of due amount is also allowed.
Government of India focus on digital economy
Significantly, the Government of India is focusing on the digital economy. Prime Minister Narendra Modi had said in his monthly radio program ‘Mann Ki Baat’ on 24 April that at present, digital transactions worth Rs 20,000 crore are taking place within the country every day. PM Modi had said, “In the last few years, BHIM UPI has rapidly become a part of our economy and habits.”
UPI has reached small towns and most villages: PM Modi
He had said that now people are using UPI even in small towns and most villages. With digital payment in the small shops of the street and nook, now there is no problem of even open money. He had said that ‘a culture is also being born in the country through digital economy’. Meanwhile, now PNB has given its customers the option of paying EMI through UPI.
