CLoU is a UPI use case enabled by NPCI following RBI's September 2023 circular permitting pre-sanctioned credit lines from banks to be linked to UPI. Only scheduled commercial banks (& select regulated entities as permitted by RBI) can issue the underlying credit line.
India's Account Aggregator (AA) ecosystem — governed under RBI's NBFC-AA framework and coordinated industry-wide by Sahamati — has enabled a category of data analytics providers that convert consented financial data (bank statements, AA feeds) into underwriting-ready signals.
India has four RBI-licensed CICs — TransUnion CIBIL, Equifax, Experian, and CRIF High Mark — that are the actual source of bureau data. Most banks use API aggregators o fetch, normalise, and format bureau data. But these aggregators solve data plumbing, not credit decisioning.
NBFCs choosing credit underwriting software should evaluate 4 things: (1) a configurable BRE that credit teams can edit without engineering dependency, (2) ML model orchestration with champion-challenger testing (3) native integrations across geographies (4) explainability sufficient for audits.
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