Mumbai: Reserve Bank of India Governor Sanjay Malhotra said on Wednesday that the RBI has conceptualised a Unified Market Interface (UMI) and work is underway to develop standards for customer onboarding on digital platforms.

Addressing the Global Fintech Fest 2025 event here, Malhotra also said that the proposed “Unified Lending Interface (ULI) aims to enable the use of data for lenders to build alternative credit models just as UPI has done in the payment space”.

He urged fintech firms to “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.”

Observing that India has a vibrant fintech ecos

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