Current Affair 1:

News:

Building on the success of UPI, the Reserve Bank of India has introduced the Unified Lending Interface, a new platform designed to provide quick and easy credit to rural and small borrowers.

RBI Governor announced that the Unified Lending Interface (ULI), designed for seamless and quick credit access, particularly for MSMEs and farmers, is currently in the pilot stage.

If you once read this article, it will give you good insights:

How ULI is different from UPI?

1. ULI focuses on lending and credit information sharing, while UPI focuses on digital payments.

 

1. ULI is primarily for financial institutions and credit entities; UPI is for the general public and businesses for money transfers and payments.
2. ULI integrates multiple data sources for credit assessment; UPI integrates multiple bank accounts for seamless payments.

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