The correct answer is Unified Lending Interface (ULI) In News • The Reserve Bank of India (RBI) is set to launch the Unified Lending Interface (ULI), a new technology designed to provide "frictionless credit" by facilitating a seamless and consent-based flow of digital information, including land records, from multiple data providers to lenders. Explanation & Key Takeaways: • The ULI is particularly aimed at reducing the time taken for credit appraisal, especially for rural and small borrowers. The system’s architecture allows a plug-and-play approach to enable quicker access to credit. • RBI Governor Shaktikanta Das announced the initiative during the Global Conference on Digital Public Infrastructure and Emerging Technologies in Bengaluru. He emphasized the ULI's role in enhancing digital access for lenders and protecting data privacy through a consent-based ecosystem. • The ULI is part of the RBI's ongoing efforts to strengthen the financial sector and make it more customer-centric. Governor Das also highlighted the potential of the UPI system to evolve into a faster and cheaper option for cross-border remittances, particularly for small-value transactions. • While praising technological advancements, the Governor also warned financial institutions about the risks associated with artificial intelligence and the need for careful management. • Das emphasized the role of DPI in driving market innovation, reducing transaction costs, and maintaining competition through interoperability, while also highlighting the benefits of developing DPI in the public sector.