M. Nagaraju, Secretary, Ministry of Finance Services (DFS) and Indian Reserve Bank on Monday organized an appointment with officials from various ministries and the Department of the Union and State Government to expand the planned united rental interface (Uli).
Uli is an online platform that provides financial and non -financial data on debtors from multiple service providers for creditors. The main goal of the uli is to support micro, small and medium -sized enterprises.
At present, Uli is in its test phase and is expected to start.
Participants at the meeting called by the Ministry of Finance included higher officials from 13 ministries and the Department of the Union Government, 11 state governments, RBIH (Reserve Bank Innovation Hub) RBI and DFS.
Nagaraju said that ULI is assumed as a digital public infrastructure for loan provision – designed to integrate technology, data and policy into one smooth platform.
Nominate node officers
He also urged the stakeholders to nominate nodal officers for rapid monitoring of the integration of government data sets with Uli to make India Uli on the credit side.
This unified interface is expected to reduce paperwork and time spent in the loan process.
This platform would provide the debtors with data on a single platform and help speed up the approval of loans by reducing the time collected in data collection from multiple sources.
Uli will allow creditors access to financial and non -financial customer data, including land records, credit scores, etc. Through the consent system. This platform will collect data from multiple sources in one place.
The main objective of the uli is to speed up the process of approval of the loan by providing easy access to creditors. This will be useful for debtors looking for quick loans and creditors who need financial and non -financial data of debtors for quick verification.
(Tagstotranslate) m. Nagaraju
