RBI readies unified interface, work on digital onboarding standards underway: Sanjay Malhotra

Reserve Bank of India Governor Sanjay Malhotra, while speaking at the Global Fintech Fest 2025, said the central bank has conceptualized a Unified Market Interface and that work is underway to develop standards for customer onboarding on digital platforms.

“Unified Lending Interface (ULI) aims to enable use of data for lenders to build alternative credit model. India has vibrant fintech ecosystem, home to close to 10,000 entities in sector. AI holds potential to fundamentally enhance next generation of Digital Public Infrastructure (DPI),” said the RBI Governor.

Reserve Bank Governor Sanjay Malhotra has asked fintech firms to design products which are easy to use and accessible to all to help India achieve financial inclusion and become a developed nation by 2047.
“Design products and services that are easy to use, accessible for all, with assistive technologies, ensuring that the vulnerable groups such as the senior citizens, individuals with limited digital literacy and the specially-abled are not left behind,” he said.

Observing that India has a vibrant fintech ecosystem and the fintech industry has made it possible to deliver financial services at scale and affordable cost, he said, the country has close to 10,000 entities.

He also said that Unified Lending Interface (ULI) aims to enable use of data for lenders to build alternative credit model as UPI has done in payment space.