RBI Governor Sanjay Malhotra urges ULI, P-CBDC for DBT
Reserve Bank of India Governor Sanjay Malhotra is encouraging states to use the Unified Lending Interface (ULI) for frictionless, end-to-end digital credit and Programmable Central Bank Digital Currency (P-CBDC) for Direct Benefit Transfers.
At a recent finance secretaries' conference, he highlighted how the programmability feature of CBDC could make sure government funds actually reach the people who need them, making financial help more accurate and inclusive.
RBI urges fiscal prudence, committee use
RBI leaders say more states are showing interest in rolling out ULI and P-CBDC across different schemes. The central bank is working closely with them to make this happen.
Malhotra also reminded everyone that smart spending and careful borrowing are key for long-term financial health, suggesting better use of state-level banking committees to keep finances on track.