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Informist, Monday, Jun. 23, 2025

 

--Fin min: Banking secy, RBI Sankar chaired meet on Unified Lending Interface 

--Fin min: RBI Sankar urged onboarding datasets on Unified Lending Interface 

 

NEW DELHI – Financial Services Secretary M. Nagaraju and Reserve Bank of India Deputy Governor Rabi Sankar chaired a meeting of senior officials of the central and state governments on Monday to discuss scaling up the Unified Lending Interface.

 

"Deputy Governor, RBI highlighted that ULI (Unified Lending Interface) is a Digital Public Infrastructure of national importance and urged the participants for onboarding their datasets on the platform to tap into its potential," the Department of Financial Services said in a post on social media platform X. Nagaraju urged officials to nominate nodal officers for fast-tracking the integration of government datasets with the lending interface to make "ULI India's next UPI on the credit side."

 

Envisaged by the RBI as a game-changer for lending like the Unified Payments Interface has been for payments, the Unified Lending Interface platform offers end-to-end digital credit by using data on prospective borrowers from various sources, including land records.

 

Unified Lending Interface is a technology platform built to facilitate easy access to authenticated data from various sources, through a standardised application programming interface to which all lenders can connect seamlessly through a ‘plug and play' model.

 

Since the launch of the pilot, 12 loan journeys have been introduced, including Kisan credit card, digital cattle, MSME unsecured, housing, personal, tractor, micro business, vehicle, digital gold, e-Mudra, pension, and dairy maintenance loans. Over 750,000 loans aggregating to INR 380 billion have been disbursed since August 2023 through the lending interface, RBI Chief General Manager Suvendu Pati had said at an event in January.  End

 

Reported by Shubham Rana

Edited by Saji George Titus

 

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