Bhashini to launch RBI’s platform for frictionless credit in multiple languages
Bhashini Division (DIBD) plans to launch the Reserve Bank of India's Public Tech Platform for Frictionless Credit in multiple languages to make financial services more accessible across languages.
The DIBD will do this in collaboration with the Reserve Bank Innovation Hub (RBIH), a subsidiary of the central bank, to explore and develop solutions that break linguistic barriers in the sphere of financial services.
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The DIBD and RBIH had signed a memorandum of understanding (MoU) at the Global Fintech Fest held in Mumbai last month, in recognition of the “pressing need for linguistic inclusivity within the financial services sector”, the statement said.
The launch of the platform is a first step in this collaboration.
“This strategic partnership is poised to revolutionise financial services by enabling communication in local languages. The primary objective is to extend the reach of digital financial services to users in their native tongues, ultimately striving for seamless banking experiences for all,” the statement added.
The RBI had announced an end-to-end digital credit delivery platform in August for seamless credit delivery. The platform,
