NBFCs may soon join technology credit wave on UPI-like innovation

The Reserve Bank of India (RBI) may grant non-banking financial companies (NBFCs) access to the public tech platform for frictionless credit (PTPFC).

Earlier this week, RBI Governor Shaktikanta Das announced that the PTPFC would be rebranded as the Unified Lending Interface. He compared its potential impact on lending to the transformation brought by the Unified Payments Interface in payments across the country.