RBI to develop platform to boost seamless digital loans amid burgeoning Fintech players
The Reserve Bank of India is developing an innovative digital platform that will enable the smooth transmission of crucial digital data to lenders, facilitating effortless credit provision. The platform will have an open structure with APIs and standards allowing all participants in the financial sector to connect effortlessly via a 'plug and play' model. The platform will be introduced as a pilot project with a measured approach regarding access to information providers and use cases.
Source: indiatimes.com