Mumbai: State Bank of India (SBI) Chairman C.S. Setty on Monday proposed the creation of a National Financial Grid to seamlessly connect key components of India’s financial ecosystem, including credit bureaus, fraud registries, eKYC facilities, UPI and the account aggregator framework.

Addressing the CII Financing Summit in Mumbai, Setty said that a single financial grid will give digital lending a fillip, enhance risk assessment, and smoothen data flow across institutions.

He highlighted that the ULI could act as a transformative backbone for this national financial grid.

Setty added that such a system would serve as one open-access infrastructure layer for the whole ecosystem. He showed how embedding a common digital framework for fraud and risk management would further enhance lendin

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