Reserve Bank of India Governor Sanjay Malhotra, while speaking at the Global Fintech Fest 2025, stated the reserve bank has actually conceived a Unified Market Interface which work is underway to establish requirements for consumer onboarding on digital platforms.
“Unified Lending Interface (ULI) aims to enable use of data for lenders to build alternative credit model. India has vibrant fintech ecosystem, home to close to 10,000 entities in sector. AI holds potential to fundamentally enhance next generation of Digital Public Infrastructure (DPI),” stated the RBI Governor.
Reserve Bank Governor Sanjay Malhotra has actually asked fintech companies to develop items which are simple to utilize and available to all to assist India accomplish monetary addition and end up being an industrialized country by 2047.
“Design products and services that are easy to use, accessible for all, with assistive technologies, ensuring that the vulnerable groups such as the senior citizens, individuals with limited digital literacy and the specially-abled are not left behind,” he stated.
Observing that India has a lively fintech community and the fintech market has actually made it possible to provide monetary services at scale and budget-friendly expense, he stated, the nation has near to 10,000 entities.
He likewise stated that Unified Lending Interface (ULI) intends to allow usage of information for loan providers to construct alternative credit design as UPI has actually carried out in payment area.
