Finance Ministry & RBI Hold Meeting on Scaling Up Credit Services via Unified Lending Interface
As India pursues its vision of frictionless, inclusive credit access, this meeting lays a strong foundation for ULI to reshape how India’s businesses and citizens obtain financing.
The Department of Financial Services (DFS), Ministry of Finance, convened a high-level meeting on June 23, 2025, in New Delhi to chart the next phase of the Unified Lending Interface (ULI) initiative.
Co-chaired by M. Nagaraju, Secretary of DFS, and T. Rabi Sankar, Deputy Governor of the Reserve Bank of India (RBI), the session brought together senior officials from central ministries and departments, state governments, the RBI and the Reserve Bank Innovation Hub to discuss strategies for transforming credit delivery as part of India’s broader digital empowerment and financial inclusion agenda.
Complete practical guide to Drafting Commercial Contracts, Click Here
Secretary Nagaraju, in his opening remarks described ULI as a Digital Public Infrastructure (DPI) designed to weave together technology, data and policy into a seamless lending platform. He drew a parallel to the success of UPI in revolutionizing payments, noting that ULI has the potential to similarly democratize access to credit across the country.
Stressing on the richness of trusted, high-value datasets held by central and state governments, Secretary Nagaraju urged lenders to leverage the governmental resources to drive data-enabled, faster and more inclusive lending, particularly for under-served borrowers. He also underscored the importance of integrating existing sector-specific initiatives with ULI to build a cohesive national lending ecosystem while preserving the unique identity of each program.
Deputy Governor Rabi Sankar framed ULI as a critical innovation in the RBI’s mandate to oversee the nation’s credit system. He thanked DFS for orchestrating the collaborative dialogue and encouraged all stakeholders to view the meeting as the beginning of a two-way engagement.
The recently appointed deputy governor also stated that ministries and state bodies must proactively recognize ULI’s promise and contribute by integrating as many relevant datasets as possible. According to him, ULI could even exceed the impact created by UPI by unlocking new efficiencies and inclusivity in credit markets.
Step by Step Guide of Preparing Company Balance Sheet and Profit & Loss Account Click Here
The deliberations culminated in a collective commitment to digitally integrate high-value government datasets into ULI, nominate nodal officers for fast-tracking this integration, accelerate the digitization of land and other public records, and align parallel lending initiatives under ULI’s umbrella.
