|
Unified Lending Interface
Unified Lending Interface, commonly referred to as ULI, is an Indian digital lending interface. ULI was introduced by Reserve Bank of India to speed up the process of giving loans. It facilitates the flow of digital information, such as land records from various states, directly to lenders. It integrates an open architecture with open Application Programming Interfaces (APIs), allowing various financial institutions to connect in a ‘plug and play’ model. It is currently in pilot stage. History Unified Lending Interface is aimed at reducing the time taken for appraisal, especially for small borrowers in rural areas. It is currently under pilot stage. The interface is expected to serve as the place for sourcing data to lenders from multiple sources about the potential borrowers. It is a consent based process. Service The ULI platform consolidates data from various sources, including Aadhaar e-KYC, state government land records, PAN validation, and account aggregators for ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
India
India, officially the Republic of India, is a country in South Asia. It is the List of countries and dependencies by area, seventh-largest country by area; the List of countries by population (United Nations), most populous country since 2023; and, since its independence in 1947, the world's most populous democracy. Bounded by the Indian Ocean on the south, the Arabian Sea on the southwest, and the Bay of Bengal on the southeast, it shares land borders with Pakistan to the west; China, Nepal, and Bhutan to the north; and Bangladesh and Myanmar to the east. In the Indian Ocean, India is near Sri Lanka and the Maldives; its Andaman and Nicobar Islands share a maritime border with Thailand, Myanmar, and Indonesia. Modern humans arrived on the Indian subcontinent from Africa no later than 55,000 years ago., "Y-Chromosome and Mt-DNA data support the colonization of South Asia by modern humans originating in Africa. ... Coalescence dates for most non-European populations averag ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Aadhaar
Aadhaar (Hindi: आधार, ) is a twelve-digit unique identity number that can be obtained voluntarily by all residents of India, based on their biometrics and demography, demographic data. The data is collected by the Unique Identification Authority of India (UIDAI), a statutory authority established in January 2016 by the Government of India, under the jurisdiction of the Ministry of Electronics and Information Technology, following the provisions of the Aadhaar (Targeted Delivery of Financial and other Subsidies, benefits and services) Act, 2016. Aadhaar is the world's largest biometric ID system. As of May 2023, more than 99.9% of India's adult population had been issued Aadhaar IDs. World Bank Chief Economist Paul Romer described Aadhaar as "the most sophisticated ID programme in the world". Considered a proof of residence and not a proof of citizenship, Aadhaar does not itself grant any rights to domicile in India. In June 2017, the Ministry of Home Affairs (India), Ho ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Permanent Account Number
A permanent account number (PAN) is a ten-character alphanumeric identifier, issued in the form of a polycarbonate card, by the Indian Income Tax Department, to any person who applies for it or to whom the department allots the number without an application. It can also be obtained in the form of a PDF file known as an e-PAN from the website of the Indian Income Tax Department. A PAN is a unique identifier issued to all judicial entities identifiable under the Indian Income Tax Act, 1961. The income tax PAN and its linked card are issued under Section 139A of the Income Tax Act. It is issued by the Indian Income Tax Department under the supervision of the Central Board for Direct Taxes (CBDT) and it also serves as an important proof of identification. It is also issued to foreign nationals (such as investors) subject to a valid visa, due to which a PAN card is not acceptable as proof of Indian citizenship. A PAN is necessary for filing income tax returns (ITR). A PAN Is Man ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Unified Payments Interface
Unified Payments Interface, commonly known as UPI is an Indian instant payment system as well as protocol developed by the National Payments Corporation of India (NPCI) in 2016. The interface facilitates inter-bank peer-to-peer (P2P) and person-to-merchant (P2M) transactions. It is used on mobile devices to instantly transfer funds between two bank accounts using only a unique UPI ID. It runs as an open source application programming interface (API) on top of the Immediate Payment Service (IMPS), and is regulated by the Reserve Bank of India (RBI). Major Indian banks started making their UPI-enabled apps available to customers in August 2016 and the system is today supported by almost all Indian banks. As of 2025, the platform had over 500 million active users in India. In May 2025, 18.67 billion UPI transactions worth ₹ 25.14 trillion (approx. 293 billion USD) were processed by the UPI system, equivalent to almost 7,000 transactions on average every second. The widespre ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Reserve Bank Of India
Reserve Bank of India, abbreviated as RBI, is the central bank of the Republic of India, and regulatory body responsible for regulation of the Indian banking system and Indian rupee, Indian currency. Owned by the Ministry of Finance (India), Ministry of Finance, Government of India, Government of the Republic of India, it is responsible for the control, issue, and maintenance of the supply of the Indian rupee. It also manages the country's main payment systems and works to promote its economic development. The RBI, along with the Indian Banks' Association, established the National Payments Corporation of India to promote and regulate the payment and settlement systems in India. Bharatiya Reserve Bank Note Mudran, Bharatiya Reserve Bank Note Mudran (BRBNM) is a specialised division of RBI through which it prints and mints Indian currency notes (INR) in two of its currency printing presses located in Mysore (Karnataka; Southern India) and Salboni (West Bengal; Eastern India). Depos ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pradhan Mantri Jan Dhan Yojana
Pradhan Mantri Jan Dhan Yojana () is a financial inclusion program of the Government of India open to Indian citizens (minors of age 10 and older can also open an account with a guardian to manage it), that aims to expand affordable access to financial services such as bank accounts, remittances, credit, insurance and pensions. This financial inclusion campaign was launched by the Prime Minister of India Narendra Modi on 28 August 2014. He had announced this scheme on his first Independence Day speech on 15 August 2014. Run by Department of Financial Services, Ministry of Finance, under this scheme 15 million bank accounts were opened on inauguration day. The Guinness Book of World Records recognized this achievement, stating: "The most bank accounts opened in one week as a part of the financial inclusion campaign is 18,096,130 and was achieved by the Government of India from August 23 to 29, 2014". By 27 June 2018, over 318 million bank accounts were opened and over ₹792 bil ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Interbank Networks In India
Interbank, formally the Banco Internacional del Perú Service Holding S.A.A. is a Peruvian provider of financial services. History In 1897, Elias Mujica opened an agency at the Jirón de la Unión in Lima's Historic Centre of Lima, historic centre under the name of ''Banco Internacional''. In 1934, branches were opened in Chiclayo and Arequipa, and later expansions included Piura, Sullana and other places in Peru. Under the Revolutionary Government of the Armed Forces of Peru, military government of Juan Velasco Alvarado, in 1970, the national bank (Bank of the Nation (Peru), Banco de la Nación) purchased ''Banco Internacional'' and changed its name to ''Banca Asociada del País''. Ten years later, under the democratic government of Fernando Belaunde Terry, the bank changed its name to ''InterBanc'' but it was still property of the Peruvian government. In July 1994, Carlos Rodriguez-Pastor Sr. along with several North American businessmen purchased 91% of the bank's stocks. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banking In India
Modern banking in India originated in the mid of 18th century. Among the first banks were the Bank of Hindustan, which was established in 1770 and liquidated in 1829–32; and the General Bank of India, established in 1786 but failed in 1791. The largest and the oldest bank which is still in existence is the State Bank of India (SBI). It originated and started working as the Bank of Calcutta in mid-June 1806. In 1809, it was renamed as the Bank of Bengal. This was one of the three banks founded by a presidency government, the other two were the Bank of Bombay in 1840 and the Bank of Madras in 1843. The three banks were merged in 1921 to form the Imperial Bank of India, which upon India's independence, became the State Bank of India in 1955. For many years, the presidency banks had acted as quasi-central banks, as did their successors, until the Reserve Bank of India was established in 1935, under the Reserve Bank of India Act, 1934. In 1960, the State Banks of India ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
