The pilot, which will be launched from August 17, will gradually be extended to more loan products.
The pilot project will be rolled out in a calibrated fashion regarding access to information providers and use cases, RBI said in a statement.
The platform will enable linkage with services such as Aadhaar e-KYC, land records from onboarded state governments (Madhya Pradesh, Tamil Nadu, Karnataka, UP, and Maharashtra), satellite data, PAN validation, milk pouring data, and proporty search.
RBI had announced the platform’s development last week. The platform is being developed by Reserve Bank Innovation Hub (RBIH), a wholly-owned subsidiary of RBI. This is an extension of the government’s concept of promoting digital public infrastructure, which can be used by banks, NBFCs, fintech companies and startups to create and provide innovative solutions in payments, credit, and other financial activities.