[1] ULI was introduced by Reserve Bank of India to speed up the process of giving loans.
It facilitates the flow of digital information, such as land records from various states, directly to lenders.
[2] It integrates an open architecture with open Application Programming Interfaces (APIs), allowing various financial institutions to connect in a ‘plug and play’ model.
[6] Unified Lending Interface is aimed at reducing the time taken for appraisal, especially for small borrowers in rural areas.
[7] The ULI platform consolidates data from various sources, including Aadhaar e-KYC, state government land records, PAN validation, and account aggregators for facilitating the lending process.