Reorganization of NITI Aayog

Reorganization: Restructured by the Government of India.

Chairman: Prime Minister Narendra Modi.

Vice Chairman: Suman Bery.

Background:

NITI Aayog replaced the Planning Commission on January 1, 2015.

Objective: Minimum government, maximum governance.

Functions:

• India’s primary public policy think tank.
• Key Initiatives: 15-year roadmap, 7-year vision, Amrit, Digital India, Atal Innovation Mission, healthcare, and agricultural reforms.

RBI to Launch Unified Lending Interface (ULI)

Announcement: 26 August 2024 by RBI Governor Shaktikanta Das.

Objective: Launch of ULI on the lines of UPI.

Features of Unified Lending Interface (ULI):

• Simplicity: The process of taking a loan will be easy.
• Reduction in time and paperwork: Credit processing will be faster.
• Open architecture: Facility to connect with financial institutions through API.
• Data collection: Will collect data from Aadhaar, e-KYC, land records, etc.
• Link services: Will link to services like dairy and property data.