JAMMU: The Reserve Bank of India (RBI), Jammu on Tuesday organised a workshop on the Unified Lending Interface (ULI) for officials of government departments and banks operating in Jammu & Kashmir and Ladakh.
Chief Secretary Atal Dulloo attended the workshop as the Chief Guest, while P. Vasudevan was the Special Guest. The event was also attended by Regional Director RBI Jammu Chandrashekhar Azad, Financial Commissioner (ACS) Tourism Dr. Ashish Chandra Verma, Commissioner Secretary Housing & Urban Development Mandeep Kaur, and senior officials from various departments and banks.
Addressing the gathering, Atal Dulloo described the Unified Lending Interface as a transformative initiative aimed at democratising access to credit.
He said the platform would significantly reduce loan processing time from weeks to minutes by enabling technology-driven integration of data, thereby enhancing efficiency, transparency and trust in the lending ecosystem.
Highlighting its importance for Jammu and Kashmir, Dulloo said ULI would bridge gaps in credit accessibility, particularly in rural and semi-urban areas, and support financial inclusion for MSMEs, farmers and first-time borrowers.
He noted that the platform marks a shift from collateral-based to data-driven lending, allowing institutions to make informed decisions using verified digital data while reducing reliance on physical documentation.
The Chief Secretary also emphasised that ULI’s interoperable architecture would eliminate fragmentation across systems, leading to faster and more reliable credit decisions. He called for capacity building and greater awareness among stakeholders to ensure effective implementation of the platform.
In his address, Chandrashekhar Azad said the Unified Lending Interface, conceptualised by the RBI and developed by the Reserve Bank Innovation Hub, is designed to enable seamless and frictionless credit delivery.
Describing it as the “UPI moment” for the lending sector, he said the platform has the potential to revolutionise credit delivery in a manner similar to the Unified Payments Interface in the payments space.
Executive Director RBI, P. Vasudevan, highlighted that the platform would provide secure, consent-based access to digital data, helping reduce delays and expand credit access, especially for farmers, small entrepreneurs and rural communities.
He also urged the government to integrate datasets through APIs and undertake pilot projects to further strengthen financial inclusion and economic growth.
The workshop concluded with detailed presentations and interactive sessions to familiarise participants with the operational framework and implementation of the Unified Lending Interface.
