State Bank of India Chairman CS Setty on Wednesday said the bank is exploring the possibility of enabling farmers to avail credit - especially through Kisan Credit Cards (KCC) - via the UPI system. Addressing the Global Fintech Fest, Setty noted that credit availability through UPI would make access as seamless as digital payments. “With predictive AI models, we can provide pre-approved small-value loans to millions of customers. The challenge, however, is not just disbursal — it’s collections,” he said, adding that UPI provides a strong framework to deliver inclusive credit if managed prudently. Inclusion in India, he emphasized, “is not complete until we deliver credit to the last mile, including farmers and small vendors.” Calling for Know Your Customer (KYC) reforms, Setty added, “As millions of new customers join the formal banking system, one challenge stands out — simplifying the KYC process. At SBI, we are actively working toward KYC simplification — engaging with regulators and the government to make the process more seamless, efficient, and digital-first.”
