Unified Lending Interface (ULI)
Unified Lending Interface (ULI) The Reserve Bank is piloting an application for frictionless credit —Unified Lending Interface (ULI). It will be launched nationwide soon and will become the UPI on the credit side. Unified Lending Interface (ULI) Background In August 2023, the RBI initiated a pilot project for a public tech platform designed to streamline credit processes, aiming to reduce costs, expedite disbursements, and enhance scalability. Recently, RBI Governor proposed naming this platform the Unified Lending Interface (ULI). He expressed that, much like UPI revolutionized the payments ecosystem, ULI is expected to similarly transform the lending landscape in India. Need…