UNIFIED LENDING INTERFACE AS A PILLAR OF INDIA'S DIGITAL ECONOMY

India's financial sector has witnessed a digital revolution over the past decade, with the Unified Payments Interface (UPI) at the forefront. Launched in 2016 by the National Payments Corporation of India (NPCI), UPI has transformed the way Indians transact, making digital payments seamless, instant, and universally accessible. This transformation has fuelled the growth of digital payments and played a critical role in financial inclusion, bringing millions into the formal banking system. As UPI continues to set benchmarks in digital payments, the Reserve Bank of India (RBI) is now steering the next wave of transformation with the Unified Lending Interface (ULI). Just as UPI revolutionised payments, ULI aims to do the same for the lending landscape in India. This article analyses the journey from UPI to ULI, its implications, challenges, and the road ahead for India's digital financial ecosystem and banking sectors