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Scotland Office Minister John Lamont tours rural areas to observe UK Government-funded digital innovation stimulating economic growth

The Public Tech Platform for frictionless credit is an end-to-end digital platform that has been developed by the Reserve Bank Innovation Hub, a wholly-owned subsidiary of the central bank. The platform will also have an open architecture, open Application Programming Interfaces (APIs), and standards, to which all financial sector players can connect in a ‘plug and play model. During the pilot program, the platform will focus on products such as Kisan Credit Card loans, dairy Loans, MSME loans (without collateral), personal loans, and home loans through participating banks.

The Reserve Bank of India (RBI) is developing a Public Tech Platform for Frictionless Credit delivery through end-to-end digital lending processes, beginning with Kisan Credit Card and dairy loans. RBIH, the RBI's wholly owned subsidiary that accelerates innovation in the financial sector, is piloting its platform in five states and plans to expand its offering to include education loans, MSMEs, and vehicle and personal loans. It will allow lenders to tap into data on milk sales or land records to establish creditworthiness, speeding up the loan application process from its current two to thre...

As part of the 'Frictionless Credit', an experience centre has been set up to give a real-life feel of the transformational Digital Kisan Credit Card (KCC) and Digital Dairy journey, RBI said in a statement.

A NEW appointment will provide leadership and strategic vision for a £21 million dairy supply chain project in South-West Scotland and Cumbria.