Loans disbursed on the ULI platform of Rs 38,000 crore

According to Suvendu Pati, chief general manager (CGM) of the Reserve Bank of India (RBI), the Unified Lending Interface (ULI), dubbed the UPI-of lending space, has disbursed 7.5 lakh loans totaling Rs 38,000 crore thus far. The central bank previously stated in the Trend and Progress report of Banking in India that as of December 6, 2024, more than 6 lakh loans totaling Rs 27,000 crore had been disbursed through application programming interfaces (APIs) from the platform, including a significant number of micro, small, and medium enterprise (MSME) loans (1.60 lakh loans totaling Rs 14,500 crore). On ULI, 36 lenders have been onboarded, including NBFCs and a variety of banks (public sector, private, small financing, district central cooperative, and regional rural banks). According to the RBI research, these lenders are utilizing over 50 data services, such as identity/document verification, satellite service, transliteration, land records data from six states, authentication and verification services, property search services, and dairy insights. Kisan credit card, digital cattle, MSME (unsecured), home, personal, tractor, microbusiness, vehicle, digital gold, e-Mudra, pension, and dairy maintenance loans are among the other 12 "loan journeys" that have been offered.