+
Centre, RBI Push ULI to Revolutionise Credit Access
ECONOMY & POLICY

Centre, RBI Push ULI to Revolutionise Credit Access

The Department of Financial Services (DFS), Ministry of Finance, held a high-level meeting in New Delhi to advance the implementation of the Unified Lending Interface (ULI), a technology-driven initiative aimed at making seamless credit accessible across India. The meeting was co-chaired by Shri M. Nagaraju, Secretary, DFS, and Shri T. Rabi Sankar, Deputy Governor of the Reserve Bank of India (RBI), and attended by senior representatives from various Central ministries, State governments, the RBI, and the Reserve Bank Innovation Hub.

ULI is being developed as a Digital Public Infrastructure (DPI) in the lending domain, aiming to unify technology, policy, and data to simplify and democratise credit access. Drawing parallels to how the Unified Payments Interface (UPI) reshaped digital payments, officials stated that ULI could redefine credit distribution by enabling faster, more inclusive lending, especially for underserved segments of society.

Secretary Nagaraju emphasised the transformative potential of the ULI. He highlighted that high-quality, trusted datasets held by ministries and state departments—if integrated with ULI—could empower lenders to make data-driven credit decisions more efficiently. He further urged for existing similar schemes to be synergised with ULI to build a unified, resilient national credit ecosystem without losing their unique identities.

Deputy Governor Rabi Sankar reiterated RBI’s commitment to innovation in the credit sector and described ULI as a potentially more disruptive force than UPI. He called on ministries and state governments to approach the project as a collaborative and ongoing engagement and to actively contribute relevant datasets to maximise ULI’s impact.

The meeting concluded with key commitments from all stakeholders:
  • Digitally integrate high-value datasets from Central and State governments with ULI.
  • Nominate nodal officers to coordinate the integration of data systems.
  • Accelerate digitisation of land and other public records at the state level.
  • Align parallel lending initiatives with ULI to establish a cohesive, technology-driven credit delivery framework.
The ULI is central to the government’s broader vision of digital empowerment, financial inclusion, and efficient last-mile service delivery. As development progresses, it is expected to become a cornerstone in modernising India’s lending infrastructure and driving equitable access to credit.

The Department of Financial Services (DFS), Ministry of Finance, held a high-level meeting in New Delhi to advance the implementation of the Unified Lending Interface (ULI), a technology-driven initiative aimed at making seamless credit accessible across India. The meeting was co-chaired by Shri M. Nagaraju, Secretary, DFS, and Shri T. Rabi Sankar, Deputy Governor of the Reserve Bank of India (RBI), and attended by senior representatives from various Central ministries, State governments, the RBI, and the Reserve Bank Innovation Hub.ULI is being developed as a Digital Public Infrastructure (DPI) in the lending domain, aiming to unify technology, policy, and data to simplify and democratise credit access. Drawing parallels to how the Unified Payments Interface (UPI) reshaped digital payments, officials stated that ULI could redefine credit distribution by enabling faster, more inclusive lending, especially for underserved segments of society.Secretary Nagaraju emphasised the transformative potential of the ULI. He highlighted that high-quality, trusted datasets held by ministries and state departments—if integrated with ULI—could empower lenders to make data-driven credit decisions more efficiently. He further urged for existing similar schemes to be synergised with ULI to build a unified, resilient national credit ecosystem without losing their unique identities.Deputy Governor Rabi Sankar reiterated RBI’s commitment to innovation in the credit sector and described ULI as a potentially more disruptive force than UPI. He called on ministries and state governments to approach the project as a collaborative and ongoing engagement and to actively contribute relevant datasets to maximise ULI’s impact.The meeting concluded with key commitments from all stakeholders:Digitally integrate high-value datasets from Central and State governments with ULI.Nominate nodal officers to coordinate the integration of data systems.Accelerate digitisation of land and other public records at the state level.Align parallel lending initiatives with ULI to establish a cohesive, technology-driven credit delivery framework.The ULI is central to the government’s broader vision of digital empowerment, financial inclusion, and efficient last-mile service delivery. As development progresses, it is expected to become a cornerstone in modernising India’s lending infrastructure and driving equitable access to credit.

Next Story
Infrastructure Urban

Monolithisch India Expands Capacity to 156,000 TPA

Monolithisch India Limited, one of the fastest-growing manufacturers in the refractory materials space, has announced a strategic expansion of its installed manufacturing capacity from 132,000 tonnes per annum (TPA) to 156,000 TPA, effective 15 July 2025. This 18% increase reflects the company’s ongoing efforts to scale operations responsibly in response to rising demand from the steel and infrastructure sectors.The company, listed on the NSE SME platform since June 2025, is implementing a phased expansion plan. It aims to reach a capacity of 215,000 TPA by September 2025 and scale further t..

Next Story
Infrastructure Transport

Siemens Wins Rs 773 Cr Deal for Nagpur Metro Phase 2

Siemens Limited has secured two high-value contracts from Maharashtra Metro Rail Corporation (Maha-Metro) for providing signalling and telecommunications solutions for Phase 2 of the Nagpur Metro Rail Project. Valued at Rs 773 crore in total, the contracts cover design, supply, installation, testing, and commissioning of state-of-the-art train control and communication technologies.The 42-month contract involves the deployment of Communication-Based Train Control (CBTC) signalling systems and advanced telecommunications infrastructure across the extended metro network. Siemens will also enhanc..

Next Story
Infrastructure Transport

Chennai Metro to Install Real-Time Info Boards Across City

Chennai Metro Rail Limited (CMRL) has initiated a project to install digital display boards at key public locations to guide commuters using real-time data. The initiative aims to enhance multi-modal integration by providing seamless travel information at railway stations, airports, shopping malls, IT parks, and educational institutions.According to the tender floated by CMRL, these display boards will feature dynamic information such as Chennai Metro’s 54-km Phase I and Phase I extension route maps, nearest station locations, fare charts, and live train updates. The boards will be placed at..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?