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Bhashini to launch RBI’s platform for frictionless credit in multiple languages

October 05, 2023

Bhashini to launch RBI’s platform for frictionless credit in multiple languages
The Digital India Bhashini Division (DIBD) plans to launch the Reserve Bank of India’s Public Tech Platform for Frictionless Credit in multiple languages to make financial services more accessible across languages.

The DIBD will do this in collaboration with the Reserve Bank Innovation Hub (RBIH), a subsidiary of the central bank, to explore and develop solutions that break linguistic barriers in the sphere of financial services.
 
“Through their combined efforts, both are set to explore and develop innovative solutions that foster linguistic inclusivity,” the ministry of electronics and information technology (Meity) said in a statement Wednesday.
 
The DIBD and RBIH had signed a memorandum of understanding (MoU) at the Global Fintech Fest held in Mumbai last month, in recognition of the “pressing need for linguistic inclusivity within the financial services sector”, the statement said.
 
The launch of the platform is a first step in this collaboration.
 
“This strategic partnership is poised to revolutionise financial services by enabling communication in local languages. The primary objective is to extend the reach of digital financial services to users in their native tongues, ultimately striving for seamless banking experiences for all,” the statement added.
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