CosmicTaco

RBI Unveils Unified Lending Interface

CosmicTaco · 2024-09-03T10:09:42.339710+05:30

- **RBI** introduces the **Unified Lending Interface (ULI)** to streamline credit for farmers and MSMEs. - **ULI** enables seamless flow of digitized financial and non-financial data from multiple providers to lenders. - The platform uses standardized **APIs** for easy integration, reducing documentation and speeding up loan approvals. - **FinTechs** and lenders can access diverse data sources, including government databases and satellite imagery. - **ULI** aims to make credit accessible for first-time loan seekers and tenant farmers, ensuring quicker loan disbursement.

RBI introduces the Unified Lending Interface (ULI) to streamline credit for farmers and MSMEs.
ULI enables seamless flow of digitized financial and non-financial data from multiple providers to lenders.
The platform uses standardized APIs for easy integration, reducing documentation and speeding up loan approvals.
FinTechs and lenders can access diverse data sources, including government databases and satellite imagery.
ULI aims to make credit accessible for first-time loan seekers and tenant farmers, ensuring quicker loan disbursement.