Recently, the Reserve Bank of India (RBI) proposed allowing small financing banks (SFBs) to use the Unified Payments Interface (UPI) to provide pre-approved loan lines. This initiative allows farmers, small business owners, and local entrepreneurs in villages and small towns to obtain microloans quickly through their UPI-linked accounts. Making credit more widely available and reasonably priced will lessen reliance on unofficial moneylenders, who frequently impose outrageous interest rates.