Overview

• The Department of Financial Services and RBI co-chaired a June 23 meeting with senior officials from 13 central ministries, 11 state governments and the Reserve Bank Innovation Hub to chart ULI’s scale-up.
• ULI is being built as a digital public infrastructure offering lenders consent-based access to authenticated financial and non-financial borrower data through standardized APIs.
• Stakeholders committed to nominating nodal officers and integrating high-value datasets—such as land records and credit scores—to accelerate the interface’s nationwide deployment.
• Originating as an RBI pilot in August 2023, the platform seeks to replicate UPI’s success by cutting paperwork and speeding approvals for products like MSME and personal loans.
• The interface remains in testing and awaits a formal nationwide rollout, with plans to align existing lending initiatives to broaden inclusive credit delivery.