Current Affairs · Banking and Financial Initiatives
The Unified Lending Interface (ULI), developed by the Reserve Bank Innovation Hub (RBIH), aims to transform credit delivery. Which of the following best describes its core architecture and use-case?
- 1A mobile application that allows borrowers to compare interest rates across banks and apply for loans directly
- 2A plug-and-play API platform that enables lenders to access diverse data sources — including land records, soil health data, and satellite imagery — in a standardised format to accelerate credit appraisal✓
- 3A credit registry maintained by RBIH that stores borrower repayment histories for use by all scheduled commercial banks
- 4A blockchain-based ledger that records agricultural loans to ensure tamper-proof documentation of collateral
Correct answer
A plug-and-play API platform that enables lenders to access diverse data sources — including land records, soil health data, and satellite imagery — in a standardised format to accelerate credit appraisal
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