CBDC and ULI make further inroads; state govts show increasing interest: RBI Dy Governor Rohit Jain
RBI Deputy Governor Rohit Jain announced that the adoption of Central Bank Digital Currency (CBDC) and the Unified Lending Interface (ULI) is expanding across India. State governments are increasingly integrating these digital tools to streamline land records and facilitate faster loan processing.
Why it matters
The scaling of CBDC and ULI represents a significant shift in India's digital financial infrastructure and government service delivery.
The Reserve Bank of India (RBI) is seeing increased use of Central Bank Digital Currency (CBDC) and Unified Lending Interface (ULI) and their adoption is on the rise, said RBI Deputy Governor Rohit Jain on Wednesday.
“We are making good progress. The adoption of both CBDC and ULI is increasing. They are not pilots any more. They are actually on the ground being used and we are following up with the banks for increasing the use cases of CBDC and ULI,” Mr Jain said.
Confirming that it has been engaged with various state governments for increased adoption of ULI; he said “we expect a lot more usage and popularity of both CBDC and ULI.”
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in