00:00After UPI, what's ULI now? Forget UPI, ULI is here. Have you heard of such things?
00:08But first let us clear one confusion.
00:11ULI is not a replacement for UPI and it would also not be correct to say that UPI is free of charges or taxes.
00:18ULI is made from Baje.
00:20Both have different functions. Let's start with a very simple example. Suppose you bought milk and
00:27You owe the milkman 50 rupees. You scan his QR code and send him 50 rupees.
00:33This is UPI, or digital payment. Now consider another example. The same one about milk.
00:38He wants to expand his small dairy business and needs a loan of 50,000 rupees from a bank or NBFC.
00:46applies for a loan. Now the lender needs to check the broker's relevant information and
00:52How to conduct a credit assessment before disbursing a loan. This is where infrastructure like ULI (Unified Lending Interface) helps.
01:02According to RBI, ULI connects lenders and different data service providers through standardized APIs.
01:10To streamline the credit assessment and lending process, remember this in one line: UPI payments
01:19It's from UPI, and ULI stands for lending infrastructure. Another important aspect is that ULI doesn't provide loans itself.
01:26There's no loan app either. It's a service that connects lenders and relevant data services.
01:32According to the RBI, by March 31, 2025, ULI will be available to 44 lenders, over 60 data services, and
01:4112 loan journeys were involved. So the next time someone says ULI is here, UPI is over, understand this.
01:48Both UPI and ULI have different functions. UPI is equivalent to payments, while ULI is equivalent to digital lending.
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