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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.

RBI governor Shaktikanta Das said the monetary policy committee had decided to keep the repo rate steady at 6.5 per cent.

Operator: Good morning and thank you for attending today's SoFi's Second Quarter 2023 Earnings Conference call.

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.

Gen Z wants and expects a digital, hyper-personalized experience that helps them reach their financial goals.