New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    What is the primary objective of the Unified Lending

    Interface (ULI) introduced by RBI?
    A To regulate digital payments Correct Answer Incorrect Answer
    B To streamline credit appraisal for farmers and MSMEs Correct Answer Incorrect Answer
    C To increase interest rates on loans Correct Answer Incorrect Answer
    D To reduce the frequency of credit reports Correct Answer Incorrect Answer
    E To provide subsidy on agricultural loans Correct Answer Incorrect Answer

    Solution

    The RBI’s Unified Lending Interface (ULI) aims to revolutionize the lending sector by providing lenders with consent-based digital access to customers' financial and non-financial data, including land records, which will streamline credit appraisal, particularly for farmers and MSMEs.

    Practice Next

    Relevant for Exams: