Question 1GS3GS3
How does the United Lending Interface (ULI) address the longstanding challenges of agricultural credit in India?
Main Body
Unified Lending Interface is a application recently launched to provide a common platform to banks to share the customer data and facilitate loans. ULI will address longstanding challenge of agri credit by : 1) Prove credit worthiness of farmers through data sharing among banks & past credit record. 2) Tackle the problem of documentation by bringing all records on one platform. 3) Facilitate putting agriculture assets as a collateral in taking loans of land, farm machinery. 4) Ease of credit to small and marginal farmers. @ 85% of total
5Tackle the challenge of agri NPA by ensuring due diligence among banks. 6) Integrate with other scheme like Fasal Bima Yojana, Kisan credit card to avail loans. 7) Boost financial inclusion of farmers by extension of banking service to their. 8) Reserve agencies and discretion in lending decision through transparency. 9) Push digital banking/M-banking thereby tackling challenge of poor banking infrastructure. Institutional ULI lending is key to serve farmers from undebtedness, boost single section and improve agriculture productivity.
— Animesh Jain · AIR 63
168 words1 paragraphs
Conclusion
Institutional ULI lending is key to serve farmers from undebtedness, boost single section and improve agriculture productivity.
17 words
Steal this copy's techniques PremiumAI pulls out the reusable moves — pick the ones you want as flashcards
Topper
Animesh Jain
AIR 632020
Subject & Paper
GS3GS3
Topic
Agriculture and Food Security
Agriculture finance
Agricultural credit systems
Writing Stats
185
Total words
1
Paragraphs
analytical
Tone