RBI to pilot public tech platform to aid lenders
RBI) on Monday announced the development of a public technology platform, aimed at providing digital information to lenders to assist the flow of frictionless credit. «The public tech platform would enable the delivery of frictionless credit by facilitating seamless flow of required digital information to lenders,» RBI said in a statement.
«The end-to-end digital platform will have an open architecture, open application programming interfaces (APIs) and standards, to which all financial sector players can connect seamlessly in a 'plug and play' model.» The RBI noted that with rapid progress in digitalisation, India has embraced the concept of digital public infrastructure which encourages banks, NBFCs, fintechs and startups to create and provide innovative solutions in payments, credit, and other financial activities. «The platform is intended to be rolled out as a pilot project in a calibrated fashion, both in terms of access to information providers and use cases,» the central bank said.
. Read more on economictimes.indiatimes.com
