00:00RBI has now prepared to bring a unified lending interface on the basis of a unified payment interface.
00:10After its arrival, it will be easier to take a loan.
00:13How, what is going to happen, how will ULI work, how will it benefit, let's know in the video.
00:19In fact, RBI Governor Shakti Kanthadas has given information about this in a program.
00:24Its biggest benefit will be for those who take small loans.
00:27In particular, small businesses will benefit from it.
00:30Shakti Kanthadas said that last year, i.e. in August 2023, Reserve Bank had launched a pilot project of a technical platform for frictionless credit.
00:40After the launch, for a year, this platform was focused on farmer credit card loan, dairy loan, MSME loan, personal loan and home loan.
00:49RBI Governor said that after the experience of the pilot project, a unified lending interface i.e. ULI will be launched in the whole country soon.
00:57He said that the way the UPI payment system has brought a big change in the entire digital payment ecosystem,
01:03in the same way, the unified lending interface will bring great changes in India's lending space.
01:08So how will you get it, who will get the benefit of ULI?
01:11See, the government and RBI have limited control over the apps that provide foreign loans.
01:17But the government will have direct control over the ULI platform-based app.
01:22The way you put a PIN through UPI and make a payment, in the same way, you will be able to get a loan by putting a PIN.
01:28This ULI will be linked to the bank account.
01:30The unified lending interface, i.e. ULI, will make it easy for the entire system to take loans.
01:36It has been designed to reduce the time and paperwork involved in credit processing.
01:41After its launch, farmers and MSMEs will be able to get loans quickly.
01:46The ULI app will collect data from different sources, including Aadhar, EKYC, state government land records, PAN validation, and account aggregators.
01:56Let me tell you that UPI was launched in April 2016 and it was launched by NPCI.
02:02In its 8-year journey, UPI has also been very successful.
02:06In July 2024, a transaction of 1444 crores was made through the unified payment interface, i.e. UPI.
02:13And during this time, a total of 20.64 lakh crores have been transferred.
02:18The way you put a PIN through UPI and make a payment, in the same way, you will be able to get a loan by putting a PIN.
02:26This is the kind of service RBI is trying to bring.
02:29How did you like this new project of ULI?
02:33What do you think about it?
02:35Do tell by commenting.
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