 Early Times Report
JAMMU, Apr 7: RBI Jammu organised a workshop on Unified Lending Interface (ULI) for officials from the line departments of the UT Government and the banks in the UTs of Jammu and Kashmir and Ladakh, on April 07, 2026, at Jammu. The event was graced by Shri Atal Dulloo, Chief Secretary, Government of UT of J&K, as the Chief Guest and Sh. P Vasudevan, Executive Director, RBI Mumbai as Special Guest in the presence of Shri Chandrashekhar Azad, Regional Director, RBI Jammu. It was attended by dignitaries including Dr. Ashish Chandra Verma, IAS, Financial Commissioner (ACS), Ms. Mandeep Kaur, IAS, Commissioner, Secretary, Housing & Urban Development Department, Secretaries from Govt departments and controlling heads of banks.
In his inaugural address, Regional Director, RBI , while welcoming the participants, stated that the Unified Lending Interface (ULI), conceptualised by the Reserve Bank of India (RBI) and developed by Reserve Bank Innovation Hub (RBIH), a wholly owned subsidiary of RBI, is a platform that enables seamless and frictionless credit delivery. He highlighted that this RBI-led initiative facilitates seamless integration of diverse data sources across the credit ecosystem, thereby enhancing access to credit, accelerating turnaround times, and elevating customer experience. He informed the participants that ULI is being hailed as the "UPI moment" for the lending sector. As UPI revolutionized the payment ecosystem, the ULI is poised to transform credit delivery-making it inclusive and redefine how credit is accessed and delivered across India.
Executive Director, RBI, highlighted the platform's potential to transform credit delivery through secure, consent-based access to digital data. ULI aims to reduce delays, improve efficiency, and expand access to credit, particularly for farmers, small entrepreneurs, and rural sectors. Despite progress in financial inclusion, many borrowers remain underserved due to lack of reliable digital data. The Government was encouraged to integrate its datasets via APIs and initiate pilot projects to boost financial inclusion and economic growth.
The Chief Secretary, while addressing the workshop on Unified Lending Interface (ULI) emphasized that ULI marks a transformative step in India's financial inclusion journey by leveraging digital public infrastructure to enable seamless, transparent, and efficient access to credit. Highlighting its significance for Jammu & Kashmir, he noted that improved credit flow is vital for supporting farmers, MSMEs, entrepreneurs, and youth, while addressing long-standing challenges such as information asymmetry and delays in lending. He underscored the need for strong collaboration among government departments, financial institutions, and technology partners, along with a focus on digitisation, data quality, and citizen trust, to ensure last-mile delivery of benefits and to build a more inclusive and resilient financial ecosystem in the region. |
