RBI has started a new service, those taking personal, property and business loans will get big relief
Bank Loan Guidelines: People resort to loans when they suddenly need money. Be it for any illness, for buying a house or for daughter's marriage or for any other expense. Today it has become easier to take a loan from banks or any other institution than before, but still many times borrowers have to face many problems. Actually, the Reserve Bank has started a new service due to which it will become easier to take personal, property and business loans. Let's know in the news below -
RBI Guidelines Sometimes money is suddenly needed, and not everyone has enough savings to be useful in times of need. In such a situation, taking a loan from a bank is a good option. However, taking a loan from a bank is also not easy, because banks sometimes reject loan applications.
The biggest reasons for loan approval are poor CIBIL score, lack of necessary documents, etc. Apart from this, it becomes a bit difficult for those who do not use internet banking to take a loan, because many facilities are related to the online process. Therefore, it is advisable to improve the CIBIL score and keep the necessary documents ready before applying for a loan.
Keeping these problems in mind, the Reserve Bank of India (RBI Update) has launched a new digital platform called Unified Lending Interface (ULI).
The purpose of this platform is to make the loan process simpler and more accessible. Through ULI, people can easily apply for a loan without any difficulty and get a loan quickly.
The loan approval process on this platform will be completely digital, which will eliminate the need to go to the bank and reduce paperwork. Along with this, loan information, document uploading facility and other necessary processes can be completed online in ULI.
The main objective of ULI is to make the loan process transparent, simple and fast, so that common people do not face any obstacle in the availability of money at the time of need.
Unified Lending Interface (ULI)
Reserve Bank of India (RBI) Governor Shaktikanta Das has launched the Unified Lending Interface to simplify and speed up the loan process. ULI is a digital platform that stores all the important information related to borrowers at one place.
It includes financial and non-financial information of the person, so that the eligibility of the borrowers can be easily assessed at one place. The main objective of this platform is to make the loan process fast and transparent, so that there is no problem in loan application and time is also saved.
ULI will benefit small businesses and people in rural areas the most, for whom the loan process often faced difficulties due to documents and other formalities. Now through this platform, they can complete their loan application without any hassle, which will help them get financial help faster.