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Vegapay and YES BANK Collaborate to Launch ‘Credit Line on UPI’
Banking software innovator Vegapay has partnered with YES BANK, one of India’s leading private-sector banks, to introduce a groundbreaking ‘Credit Line on UPI’ platform. This initiative aims to revolutionize access to credit in India by leveraging the extensive reach of the Unified Payments Interface (UPI).
Expanding Credit Access with UPI
Despite UPI’s rapid adoption—boasting over 350 million active users and processing 14 billion transactions monthly—formal credit access remains limited. Currently, only 15–20% of Indians have access to credit cards. The ‘Credit Line on UPI’ seeks to address this gap by offering seamless, flexible credit solutions to both new and existing customers.
Features of the Credit Line
Through the platform, YES BANK can customize credit offerings, including:
- Interest-free or interest-bearing options
- Flexible EMIs
- Tailored rules using an intuitive and user-friendly interface
This flexibility is designed to cater to a diverse customer base, allowing users to choose credit solutions that best fit their financial situations.
Industry Potential
With UPI transactions projected to grow by 57% annually through FY 2024 and UPI-linked credit products expected to exceed $50 billion by 2025, this collaboration is set to play a pivotal role in reshaping India’s credit landscape.
Market Growth Insights
Recent data indicates that UPI transactions reached a total value of ₹20.64 trillion in July 2024, reflecting a 45% year-on-year growth. The increasing volume of UPI transactions highlights the potential for integrating credit services directly into this widely used payment method.
Rajan Pental, Executive Director at YES BANK, emphasized the significance of the initiative:
“UPI reshaped India’s digital payments, yet extending formal credit remains a challenge. YES BANK processes one in every three digital transactions in India. With ‘Credit Line on UPI,’ we aim to lead the charge in building a credit-driven future for millions.”
Technology-Driven Financial Inclusion
The platform offers a customizable app and an intuitive dashboard, enabling banks to integrate it seamlessly into their existing systems. This efficiency minimizes the data required from customers, streamlining the credit process for both users and institutions.
Gaurav Mittal, CEO of Vegapay, highlighted the platform’s adaptability and scalability:
“We empower financial institutions to launch a Credit Line on UPI within weeks, enabling swift adaptation to market demands and supporting thousands of transactions per second.”
Enhancing User Experience
The integration of credit lines with UPI aims to simplify access to funds, allowing users to make purchases directly using their available credit without the need for separate applications or lengthy approval processes.
Industry Endorsements
Nalin Bansal, Chief of Fintechs at NPCI, praised the initiative:
“This partnership sets a new industry standard and exemplifies the transformative potential of UPI for driving financial inclusion. Vegapay and YES BANK’s efforts enhance the credit experience for both existing and new customers.”
Broader Implications
The collaboration is expected not only to improve access to credit but also to foster greater financial literacy among users as they engage with these new financial products.
Bridging the Credit Divide
By leveraging UPI’s massive reach and advanced technology, Vegapay and YES BANK aim to bridge India’s credit divide, fostering financial inclusion and empowering millions to access formal credit conveniently and efficiently. This initiative aligns with India’s broader goals of enhancing digital payment solutions while ensuring that financial services are accessible to all segments of society.
Conclusion
The introduction of ‘Credit Line on UPI’ marks a significant step towards integrating credit services within one of India’s most popular payment platforms. As Vegapay and YES BANK work together to implement this innovative solution, they are poised to transform how consumers access credit in India, thereby contributing to a more inclusive financial ecosystem.
Hyderabad, January 13, 2026 Neeman’s, India’s leading D2C footwear brand famed for sustainable shoes and patented PIXLL® technology, has raised $4 million from existing investors. This funding boosts its cumulative capital past $10 million since 2015, with a post-money valuation nearing $50 million. CEO Vijay Chahoria emphasized offline retail as the “next frontier,” planning 50+ new stores in Tier 2/3 cities like Jaipur and Lucknow to blend eco-friendly innovation with hands-on customer experiences.
In India’s booming D2C ecosystem where footwear sales hit ₹1.2 lakh crore in 2025 Neeman’s targets hybrid retail amid high online CAC and 25-30% returns. Backed by vegan, machine-washable shoes priced ₹2,000-4,000, the brand leverages PIXLL® (5x more breathable than leather) for carbon-neutral comfort. Recent 5x revenue growth to ₹100 crore ARR, 1M+ pairs sold via Myntra and stores, and awards at India D2C Summit 2025 position it ahead of rivals like Paaduks.
Neeman’s offline expansion India eyes the $15B sustainable footwear market by 2028, fueled by PLI schemes, Gen Z’s 70% eco-preference (Nielsen), and Southeast Asia exports. Challenges like real estate costs are offset by data-driven inventory and omnichannel QR tech. Watch for Q1 2026 launches in Hyderabad and Bengaluru redefining D2C success through authentic, “Wear the Change” branding.
The Centre is weighing the option of revoking X’s safe harbour status in India after its AI chatbot Grok was allegedly misused to generate and circulate obscene and sexually explicit content, including material seemingly involving minors. The IT Ministry has already issued a notice to X, directing the platform to remove unlawful content, fix Grok’s safeguards, act against violators, and submit a detailed compliance report within a tight deadline. If the government finds X’s response inadequate, it could argue that the platform has failed to meet due‑diligence standards under Indian law, opening the door to harsher action.
Under Section 79 of the IT Act, safe harbour protects intermediaries like X from being held directly liable for user‑generated content, provided they follow due‑diligence rules and promptly act on legal takedown orders. Revoking this protection would mean X and its officers could be exposed to criminal and civil liability for obscene, unlawful, or harmful content that remains on the platform, including AI‑generated images from Grok. This prospect significantly raises X’s compliance risk in India and could force tighter moderation, stricter AI controls, and more aggressive removal of flagged posts.
The Grok episode also spotlights the regulatory grey zone around generative AI, where tools can create harmful content at scale even without traditional user uploads. Policymakers are increasingly questioning whether AI outputs should still enjoy the same intermediary protections as conventional user posts, especially when they involve women and children. How the government ultimately proceeds against X over Grok misuse could set a precedent for AI accountability, platform responsibility, and safe harbour interpretation in India’s fast‑evolving digital ecosystem.
Home services startup Pronto is in advanced talks to raise about $25 million at a near-$100 million valuation, underscoring strong investor confidence in India’s fast-growing 10-minute home services market. This potential round would be the company’s third major funding milestone after its $2 million seed and $11 million Series A in 2025, backed by marquee investors such as General Catalyst, Glade Brook Capital, Bain Capital and new participant Epiq Capital. The fresh capital is expected to further strengthen Pronto’s positioning as a leading tech-led household help platform for urban consumers.
Pronto operates a 10-minute on-demand home-services platform that connects users with trained, background-verified workers for everyday tasks like sweeping, mopping, utensil cleaning, laundry and basic cooking. Using a hub-and-spoke, shift-based model, the startup stations workers at hyperlocal hubs, enabling sub-10-minute fulfilment and more predictable earnings compared to the informal domestic-help market. Founded in 2024 by Anjali Sardana and based in Delhi NCR, Pronto has already expanded from Gurugram into major cities such as New Delhi, Mumbai, Bengaluru and Pune, and is handling around 6,000 daily bookings with nearly 1,300 active professionals as of December 2025.
The upcoming $25 million fundraise is expected to be used to enter more metros, deepen presence in existing neighbourhoods with additional hubs and upgrade Pronto’s technology for smarter routing, shift planning and real-time operations. A significant portion of the capital will also go into training, retention and benefits for its workforce to maintain consistent service quality at scale, especially as competition heats up from rivals like Snabbit and Urban Company in the rapid home services space. This near-$100 million valuation not only validates Pronto’s model but also highlights a broader shift toward organised, tech-driven domestic-help solutions in India’s largely informal home-services market.
Dazzl Raises $3.2M Seed Funding Led by OYO’s Ritesh Agarwal for AI Skincare Expansion
D2C Brand Neeman’s Raises $4 Million for Tier 2/3 Store Expansion & Eco-Friendly Shoes
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