ENA Sectors 2025-10-09 17:40:11 <p><span style="font-size:14px"><strong>New Delhi, Oct 9 (KNN)</strong> Reserve Bank of India (RBI) Governor Sanjay Malhotra on Wednesday announced the creation of a Unified Market Interface (UMI), a new market infrastructure designed to enable instant buying, selling, and trading of financial assets as digital tokens settled through the central bank digital currency (CBDC).</span></p> <p><span style="font-size:14px">Early efforts and results from the inaugural pilot in improving market efficiency here are encouraging, Malhotra said, speaking at the Global Fintech Fest 2025, reported TOI.</span></p> <p><span style="font-size:14px">He emphasised that Indias digital finance ecosystem has reached a critical juncture, with the next phase of financial inclusion to be driven by data integration, digital currency, asset tokenisation, artificial intelligence, and cybersecurity.</span></p> <p><span style="font-size:14px">The RBI governor highlighted the role of the Account Aggregator framework, which currently covers 160 million accounts and processes 3.6 billion requests, in unlocking the potential of financial data. </span></p> <p><span style="font-size:14px">Efforts are underway to standardise customer onboarding, consent management, and data security, while promoting interoperability among aggregators. </span></p> <p><span style="font-size:14px">He also pointed to the Unified Lending Interface, which has sanctioned 3.2 million loans worth Rs 1.7 trillion, as a tool to bridge Indias credit gap, particularly for individuals with thin or no credit history.</span></p> <p><span style="font-size:14px">Malhotra underlined the digital rupee as a pivotal layer of Indias digital public infrastructure. </span></p> <p><span style="font-size:14px">The retail e-rupee, launched in December 2022, now involves 19 banks and 7 million users, with interoperability with UPI enabling wider adoption. </span></p> <p><span style="font-size:14px">Programmable features are already being used for targeted transfers and subsidies, including Gujarats G-Safal scheme for farm inputs and Andhra Pradeshs LPG subsidy program.</span></p> <p><span style="font-size:14px">He noted that Indias fintech sector, comprising over 10,000 firms with USD 40 billion in investment over the past decade, benefits from a large technology talent base, a diverse financial ecosystem, and enabling regulatory policies. </span></p> <p><span style="font-size:14px">We will continue this facilitation so that fintechs can make use of the digital public infrastructure and financial ecosystem for the collective benefit of the economy, Malhotra said.</span></p> <p><em><strong><span style="font-size:14px">(KNN Bureau)</span></strong></em></p> 43756 https://knnindia.co.in/news/newsdetails/sectors/rbi-guv-unveils-unified-market-interface-to-enable-instant-trading-via-digital-rupee 2025-10-09 17:40:11 knnindia.co.in