New Delhi, June 23 -- The Reserve Bank of India (RBI) is pushing towards a fully digital, low-friction credit ecosystem for micro, small and medium enterprises (MSMEs), with the Unified Lending Interface (ULI) and digital public infrastructure at its core.

Addressing an event to mark International MSME Day in Kochi on Monday, RBI Governor Sanjay Malhotra called on banks and financial institutions to invest in India's digital public infrastructure stack - including the account aggregator framework, ULI, the Trade Receivables Discounting System (TReDS), GST data trails and Aadhaar-enabled authentication.

Malhotra said, "This will help create conditions for a fundamentally more inclusive credit ecosystem," reported TOI.

Banks Urged to Go ...