Ease of lending: How Unified Lending Interface will improve credit access

Seamless delivery of credit and a quicker turnaround time without requiring extensive documentation will benefit both borrowers and lenders

Following a pilot project, the Reserve Bank of India (RBI) is preparing to launch a new nationwide Unified Lending Interface, or ULI, in due course. The platform seeks to enhance lending to various sectors of the economy, especially agriculture, and micro, small, and medium enterprises (MSMEs). Once implemented, it has the potential to transform the credit landscape in the country, akin to the Unified Payments Interface (UPI), which revolutionised digital payments. At the recently held RBI@90 Global Conference on “Digital Public Infrastructure and Emerging Technologies”, RBI Governor Shaktikanta Das highlighted the ULI platform would facilitate a seamless