Bhubaneswar: In a significant push towards digital and inclusive lending, the Ministry of Micro, Small and Medium Enterprises (MSME) has signed a Memorandum of Understanding (MoU) with the Reserve Bank Innovation Hub (RBIH) to facilitate faster and data-driven access to credit for MSMEs through the Unified Lending Interface (ULI).
The partnership will enable API-based data exchange and integration between the Ministry of MSME and ULI, allowing relevant digital information to be accessed and shared more efficiently.
The initiative is aimed at making credit delivery to MSMEs faster, simpler and more seamless, while strengthening India’s digital lending ecosystem.
The collaboration is also expected to support data-driven policymaking for the MSME sector by enabling better use of digital information and improving the flow of relevant data across lending systems.
The MoU was signed by Dr. Rajneesh, Additional Secretary and Development Commissioner, Ministry of MSME, and Shri Sahil Kini, Chief Executive Officer, Reserve Bank Innovation Hub, in the presence of senior officials from the Ministry of MSME, the Reserve Bank of India and RBIH.
The initiative marks another step towards building a more technology-enabled credit ecosystem for India’s millions of small businesses and entrepreneurs.
