look news india
While the Reserve Bank of India's Unified Payment Interface (UPI) has created a stir in the world, now RBI is preparing to bring Unified Lending Interface (ULI) in the country to bring a revolution in the loan sector. After its arrival, it will become easier to take a loan. Addressing a program, RBI Governor Shaktikanta Das shared information about it and said who will benefit from it and how?
Expect something as wonderful as UPI
The Reserve Bank of India (RBI) launched a pilot project of ULI last year with the aim of simplifying and facilitating the work in the loan sector and now it can start soon. This integrated loan platform is specially designed to provide loans easily and in a short time to the people of small and rural areas. Just as the payment system has been revolutionized after the arrival of UPI and there has been a big change in its methods, similarly changes are expected in the loan sector as well.
Farmers-MSMEs will get loan immediately!
Giving this information during a program, RBI Governor Shaktikanta Das said that continuing the journey of digitization of banking services, we started using this platform last year, which helps in loan processing without any hindrance. After its launch, especially farmers and micro, small and medium businesses (MSME) will be able to get instant loans. Referring to the features of this platform, he said that it will have land records and other data of different states. This will reduce the time taken in loan approval for borrowers from small and rural areas.
