RBI Introduces Pilot Project for a Unified Digital Credit Platform
The Reserve Bank of India (RBI) has introduced an ambitious plan to make the country's credit system smoother. On August 10, 2023, as part of its Statement on Developmental and Regulatory Policies, the RBI announced the first trial of a Public Tech Platform for Effortless Credit. This innovative platform is being led by the Reserve Bank Innovation Hub (RBIH), a special subsidiary of the RBI. This is like a test version to see how well it works.
India's rapid shift towards #digital #technology has created a strong digital foundation. This has enabled banks, NBFCs (Non-Banking Financial Companies), FinTech firms, and startups to come up with advanced solutions in payments, credit, and other financial areas.
Source - https://www.coingabbar.com/en/crypto-currency-news/rbi-launches-public-tech-platform-for-smoother-credit-system