Business
How RBI’s frictionless credit initiative help lenders, borrowers save money? Official explains
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The frictionless credit initiative being piloted by the Reserve Bank is helping lenders slash their customer acquisition cost by a whopping 70 per cent, while for borrowers the saving is 6 per cent of the loan amount, a senior central bank official has said.
The pilot started with an all-digital KCC (kisan credit card) lending, developed by the RBI Innovation Hub on the public tech platform, in Tamil Nadu and Madhya Pradesh this April.
The pilot has been extended to four more states — Maharashtra, Uttar Pradesh, Karnataka, Gujarat (for dairy farmers) from August 17 this year.
The pilot launch of the public tech platform for frictionless credit to farmers has helped reduce operational costs for lenders by more than 70 per cent, while for the farmer, the saving is 6 per cent of the loan amount, Ajay Kumar Choudhary, an executive director and head of the fintech department at the RBI, said here over the weekend while addressing the three-day global fintech festival.
Moreover, there is massive savings in opportunity cost, as earlier a farmer had to make six to eight weekly rounds to the bank which has come down to a maximum of 0 minutes now, Choudhary said.
Choudhary further said this has also reduced traditional charges that banks used to levy from borrowers, as with all documents available digitally, there is effectively no cost in customer acquisition with this model of lending.
The platform was created by the Reserve Bank Innovation Hub, an independent subsidiary of the central bank, enabling seamless flow of necessary information to lenders. This in turn will help in disbursing frictionless credit.
On April 17, the RBI rolled out a pilot project for pure retail products such as kisan credit card loans up to ₹1.6 lakh per borrower, dairy loans, un-collateralised MSME loans, personal loans, and home loans, in Madhya Pradesh and Tamil Nadu.
The platform is an open architecture, based on open application programming interfaces (APIs) and standards platform where all financial sector players can connect seamlessly in a plug and play model.
It’s akin to a Google search for retail lending as the platform just collates data (Aadhaar e-KYC, Aadhaar e-signing, account aggregation by account aggregators and PAN validation, to sanction and disburse loans as part of KYC verification.
“The frictionless credit platform is intended to be rolled out as a pilot project in a calibrated fashion on August 17, both in terms of access to information providers and use cases. It shall bring about efficiency in the RBI lending process in terms of reduction of costs, quicker disbursement, and scalability,” the RBI said in a public release on August 15.
“During the pilot, the platform will focus on products such as KCC loans up to ₹1.6 lakh per borrower, dairy loans, MSME loans (without collateral), personal loans and home loans through participating banks,” the apex bank said.
Based on the learnings, the scope and coverage will be expanded to include more products, information providers and lenders during the pilot, the RBI release said.
Zoe Saldaña stunned at the 2025 Oscars, taking home the award for Best Supporting Actress for her performance in Emilia Peréz. Dressed in a Saint Laurent gown with a jewel-encrusted bandeau and a layered skirt, Saldaña kept her makeup soft, radiant, and effortless—a signature of her classic beauty style.
With the help of Armani Beauty celebrity makeup artist Vera Steimberg, Saldaña’s look featured luminous skin, rosy eyes, and a glossy lip. If you want to recreate her elegant, rosy beauty look, follow these steps:
- Radiant, Flawless Skin
Saldaña’s complexion was all about natural radiance and soft sculpting:
Foundation: Apply Armani Beauty Luminous Silk Foundation in shade 7.75 for an even, dewy base.
Concealer: Use Armani Beauty Luminous Silk Concealer under the eyes for a brightened effect.
Contour & Glow: Sculpt the cheekbones and jawline with Luminous Silk Foundation in shade 8.75, then add Fluid Sheer Glow Enhancer Highlighter in shade 2 to the cheeks and nose tip for a luminous finish.
- Rosy, Soft-Focus Eyes
The warm, pink-toned eye makeup subtly complemented her burgundy dress:
Base Color: Use Luminous Silk Creamy Bronzing Powder in shade 110 as a transition shade on the eyelids for warmth.
Rosy Eyeshadow Blend: Layer Eye Tint Long-Lasting Liquid Eyeshadows in shades 10S, 56S, and 44S for a soft, romantic wash of color.
Mascara: Finish the eye look with two coats of Armani Vertigo Lift Mascara on the top and bottom lashes for lifted, voluminous lashes.
- Glossy Rose Lips
For her soft, rosy pout:
Lipstick: Apply Armani Lip Power Lipstick in shade 108 for a natural pink hue.
Gloss: Layer with Prisma Glass Lip Gloss in shade 02 for extra shine.
- Effortless Wavy Hair
Hairstylist Mara Roszak created Saldaña’s soft, flowing waves:
Volume & Texture: Prep hair with RŌZ Air Thickening Spray for added fullness.
Styling: Use a curling iron to create loose waves.
Extensions: Add Covet & Mane brunette extensions in Portofino and Dubai for extra length and volume.
Vanessa Kirby made a striking appearance at Sarah Burton’s highly anticipated inaugural Givenchy runway show for Fall 2025, embodying the essence of the designer’s vision. As a longtime admirer of Burton’s work, the Fantastic Four: First Steps star was eager to witness the debut collection in Paris.
“I really wanted to be here in Paris for Sarah’s first show,” Kirby expressed with enthusiasm. “Sarah has been my favorite designer for years. I absolutely love everything she does—I think she’s a master. She designs clothes truly for women—always extraordinary, feline, and structured in a way that makes you feel so empowered.”
Having collaborated with Burton throughout her tenure at Alexander McQueen, Kirby’s presence at the show was a testament to their ongoing creative synergy. Dressed in a sleek black ensemble with sharp shoulders and a plunging V-neck, Kirby’s outfit embodied Burton’s signature aesthetic: a balance of strength and femininity. “The dress we chose felt very classic—the shape felt architectural and strong, but also daytime and relaxed,” she noted.
Following the intimate runway presentation, Kirby joined an exclusive gathering of fashion and film’s elite at a celebratory dinner honoring Burton’s Givenchy debut. Among the attendees were Rooney Mara, Gwendoline Christie, Raye, Alex Consani, and Yseult, all raising a toast to the designer’s new chapter.
Reflecting on the experience, Kirby shared her admiration for the energy of Paris Fashion Week. “I associate Paris with the amazing shows that happen every year. The shows themselves feel like a real reveal—seeing what Sarah has been working on for months for her first Givenchy collection. Everyone was so excited to see her vision.”
With Burton’s Givenchy era now officially underway, Kirby’s presence at the event was a fitting tribute to the designer’s ability to craft powerful, empowering fashion for the modern woman.
Paris Fashion Week is in full swing, and Zoey Deutch was among the stars braving traffic and freezing temperatures to attend the highly anticipated Chloé show on Thursday. The event, held at the Tennis Club de Paris, marked creative director Chemena Kamali’s celebration of “soft strength.”
Behind the Scenes: Zoey’s Getting-Ready Process
Before stepping out, Deutch gave ELLE an exclusive look at her transformation into the perfect Chloé-girl—a balance of effortlessness and elegance.
Makeup by Hung Vanngo: Soft, fluffy brown lashes and a rosy blush moment for a natural glow.
Hair by Rebekah Forecast: With her pixie cut growing out, she opted for a loose, undone bun to complement the look.
Accessories: Unable to pick just one statement piece, Deutch embraced gold and seashell accessories, layering a necklace, statement earrings, and rings for a playful yet sophisticated vibe.
The Chloé Aesthetic: Feminine & Free-Spirited
Zoey’s look perfectly embodied Chloé’s signature effortless femininity—a blend of soft, undone beauty and refined details. Despite the cold and the Parisian traffic, she arrived at the show looking polished yet relaxed, proving that true style is all about confidence and comfort.
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