Unified Lending Interface (ULI) is a platform developed by the Reserve Bank Innovation Hub (RBIH).
It uses standardized Application Programming Interfaces (APIs) to simplify technical integrations, allowing a ‘plug and play’ approach for digital access to diverse information sources.
It aims to streamline and speed up the credit process for farmers and MSME borrowers
Facilitates seamless, consent-based flow of digital information, including land records, from various data providers to lenders.
Reduces the time and complexity involved in credit appraisal, especially for small and rural borrowers.
Expected to transform the lending space in India similar to how UPI transformed payments.
The combination of JAM (Jan Dhan-Aadhaar-Mobile), UPI, and ULI is described as a “new trinity” that will drive India’s digital infrastructure forward.
COMMENTS