Unified Lending Interface
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Unified Lending Interface, commonly referred to as ULI, is an Indian digital lending interface.[1] ULI was introduced by Reserve Bank of India to speed up the process of giving loans. It facilitates the flow of digital information, such as land records from various states, directly to lenders.[2] It integrates an open architecture with open Application Programming Interfaces (APIs), allowing various financial institutions to connect in a ‘plug and play’ model.[3][4][5]
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It is currently in pilot stage.[6]
History
Unified Lending Interface is aimed at reducing the time taken for appraisal, especially for small borrowers in rural areas. It is currently under pilot stage. The interface is expected to serve as the place for sourcing data to lenders from multiple sources about the potential borrowers. It is a consent based process.[7]