Published 15:30 IST, January 28th 2025
This Payment Mode Will Have Higher Impact Than UPI, Says Zerodha's Nikhil Kamath - See Post
The ULI was launched by then-RBI Governor Shaktikanta Das on August 26, 2024, at the RBI @90 Global Conference in Bengaluru.

Nikhil Kamath, co-founder of Zerodha has said that the Unified Lending Interface (ULI) will have a greater impact than the Unified Payments Interface (UPI). Taking to X (formerly known as Twitter), he posted a series of slides where he emphasized the need for a more mature and simplified lending system, which can catalyze India's entrepreneurial drive.
He shared his thoughts, saying, “Access to credit for everyone is cardinal to India's growth aspirations. A good test of any regulation is if it leads to increased activity in the shadow markets. If so, it's likely bad across industries.” In his slides, he also highlighted the deep issues faced by borrowers in the current lending system. These include complex credit systems, higher interest rates from informal credit sources, regional disparities, and socio-cultural barriers.
Acknowledging these challenges, he praised the Unified Lending Interface (ULI), a more streamlined lending initiative introduced by the Reserve Bank of India ( RBI ). He applauded the RBI for introducing the most efficient lending system so far, saying, "That's why our supreme financial institution, the Reserve Bank of India (RBI), has introduced the most efficient lending system to date."
ULI: All You Need To Know
The ULI was launched by then-RBI Governor Shaktikanta Das on August 26, 2024, at the RBI @90 Global Conference in Bengaluru. With this scheme, the RBI aims to streamline the credit system, promoting overall economic growth by ensuring quicker, more transparent, and inclusive financial services. As stated on the RBI's website, "ULI is poised to completely transform credit delivery in the country."
Kamath also touched upon the importance of taking risks in debt giving, emphasizing that risk is a fundamental factor in achieving rewards. "The more I think about it, all rewards in life are a factor of risk. Debt-taking ability is also a risk. Not saying taking debt is good, but also saying there is no reward without risk," he concluded his posts.
Updated 15:45 IST, January 28th 2025