RBI To Launch 'ULI' Soon: A New UPI-Like Transformational Platform for Lending
RBI To Launch 'ULI' Soon: A New UPI-Like Transformational Platform for Lending
#rbi #shaktikantadas #uli #upi #loan #banking
#ULI #RBIGovernor #DigitalLending #FinancialRevolution #IndiaEconomy #shaktikantadas
India will formally launch its next digital financial revolution – the Unified Lending Interface (ULI). According to RBI Governor Shaktikanta Das who christened the pilot project launched last year as ULI, the interface will revolutionise the financial industry in India just like UPI – the Unified Payments Interface has done in the past few years. ULI will enable frictionless credit by cutting time taken for appraisals by lenders. It will also integrate external records such as the land records of states while ensuring total data privacy protection. The RBI Governor announced the new trinity – JAM, UPI and ULI.
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