Government, RBI Push Unified Lending Interface As Next Big Digital Infrastructure

On Monday, the government underlined the Unified Lending Interface (ULI) as a transformative Digital Public Infrastructure (DPI) aimed at revolutionising credit delivery across India.

Senior officials from the Ministry of Finance and the Reserve Bank of India (RBI) led a high-level meeting in New Delhi to discuss scaling up the initiative.

The Department of Financial Services (DFS) convened the meeting, co-chaired by M Nagaraju, Secretary of DFS, and T Rabi Sankar, Deputy Governor of RBI. The gathering included senior representatives from central ministries, state governments, the RBI, and the Reserve Bank Innovation Hub.

ULI to redefine credit delivery

Officials, however, stated that ULI will integrate technology, data, and policy into one seamless lending platform. Inspired by the success of UPI in payments, ULI seeks to deliver frictionless credit access for every Indian, especially underserved segments.

Nagaraju noted that ULI will leverage the rich, trusted datasets already available with central and state governments.

These datasets, when accessed by lenders, can enable faster and more inclusive credit delivery. He also highlighted the need to integrate existing lending-related initiatives with ULI to build a unified and resilient credit ecosystem.

RBI backs collaborative innovation

Deputy Governor Sankar emphasised RBI’s commitment to bringing innovation into India’s lending framework. He encouraged ministries and state governments to treat the ULI platform as a collaborative tool.

“This meeting is a starting point for joint action,” Sankar said. “Stakeholders must contribute relevant datasets to maximise the potential of ULI.”

He further added that ULI has the potential to even surpass UPI in its national impact by reshaping how credit is accessed and managed throughout the country.

The government and RBI see ULI as a game-changing initiative that could drive financial inclusion, digital empowerment, and economic growth through efficient and inclusive lending mechanisms.

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