A 'unified lending interface' carries great potential, but is also risky

Quick Summary:

Quite a bit of information has been put on India’s UPI, from educational certificates and medical history, to land records.

The formal banking system is dominated by the public sector, which lacks much of a profit motive and thus has deeply conservative lending practices.

Now that instant payments linked to bank accounts have been in use for years, there’s also a lot of financial data that could be put to work.

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Article Details

Category: BusinessFinance

Markets: India

Topics: Unified lending interface Reserve Bank of India Unified Payments Interface Digital public infrastructure RBI UPI

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-04 @ 09:12:56 (11 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 747 words

Reading Time: 5 minutes read

Sentences: 38 lines

Sentence Length: 20 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Standard

News ID: 22362868

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About Business Standard

Main Topics: BusinessFinance

Official Website: business-standard.com

Update Frequency: 268 posts per day

Year Established: 1975

Headquarters: India

News Last Updated: 2 hours ago

Coverage Areas: India

Ownership: Independent Company

Publication Timezone: GMT +5:00

Content Availability: Worldwide

News Language: English

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Website Security: Secure (HTTPS)

Publisher ID: #49

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