Daijiworld Media Network - Mumbai

Mumbai, Oct 8: Reserve Bank of India governor Sanjay Malhotra on Wednesday outlined a bold vision for India’s fintech future, announcing the development of a Unified Market Interface (UMI) aimed at transforming digital financial ecosystems. Speaking at the Global Fintech Fest 2025 in Mumbai, he revealed that the RBI is actively working on standardising customer onboarding protocols across digital platforms to ensure smoother, more inclusive access to financial services.

Highlighting the central bank’s next strategic move, Malhotra introduced the concept of a Unified Lending Interface (ULI) — a proposed system that would allow financial institutions to leverage alternative credit models by harnessing data, much like UPI revolutionised payments in India.

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