Mumbai, October 13, 2025 – The Reserve Bank of India (RBI), under the leadership of Governor Shri Sanjay Malhotra, unveiled a new wave of digital payment initiatives at the Global Fintech Festival (GFF) 2025. These innovations, developed in collaboration with the National Payments Corporation of India (NPCI), are designed to further modernise India’s digital financial ecosystem, with a strong focus on user convenience, advanced technology, and system-wide interoperability.
The event was attended by several industry stalwarts, including Infosys Co-Founder and NPCI Innovation Advisor, Shri Nandan Nilekani, along with Shri Ajay Kumar Choudhary, Non-Executive Chairman of NPCI, senior bankers, fintech founders, and policy leaders.
Key Innovations Announced
1. UPI HELP – AI-Driven Customer Support
One of the headline features is UPI HELP, an AI-powered assistance system built using NPCI’s Small Language Model (SLM). This tool is developed to streamline user support across UPI platforms, making it easier for users to manage payments, resolve disputes, and handle mandates — all through a smart, intuitive interface.
2. IoT Payments with UPI – Payments Through Smart Devices
The RBI also introduced IoT-enabled UPI Payments, which will allow users to make transactions directly from connected devices such as smart TVs, vehicles, and wearables. This initiative paves the way for a frictionless digital experience, where transactions become an integrated part of everyday smart environments.
3. Banking Connect – Seamless Net Banking Interoperability
Banking Connect is a newly launched interoperable net banking solution aimed at providing a uniform and efficient experience across different banks. It also simplifies merchant onboarding, bringing consistency and speed to online payment processes while reducing friction for both consumers and businesses.
4. UPI Reserve Pay – Controlled and Secure Credit Management
UPI Reserve Pay is a new feature that enables users to block and manage credit limits for specific uses across UPI and merchant platforms. It offers greater control over how and where funds can be spent, improving financial discipline and adding a new layer of flexibility for credit-based payments.
A Forward-Looking Payment Ecosystem
These initiatives represent a major leap in India’s journey toward building a more intelligent and inclusive digital financial infrastructure. By integrating technologies such as Artificial Intelligence, IoT, and credit limit management tools into the UPI ecosystem, the RBI and NPCI are not only expanding the functionality of digital payments but also improving the way users interact with financial services in everyday life.
The focus is now on making transactions not just faster and more secure, but also smarter — where devices can act, respond, and assist in financial decisions without needing human intervention at every step.
Towards a Smarter, Inclusive Digital Future
With these developments, India continues to lead the global fintech movement by redefining how technology can be embedded into financial services. These innovations aim to make digital finance more intuitive, integrated, and accessible across all levels of society — from individual consumers to businesses and institutions.
As India strengthens its position as a global leader in digital public infrastructure, the focus remains on building systems that are inclusive, efficient, and aligned with the rapidly evolving needs of the digital economy.