RBI Governor Sanjay Malhotra announced the launch of 4 new product offerings: AI Based UPI HELP; Small Language Model (SLM); IoT Payments with UPI; Interoperable Net Banking Solution, and UPI Reserve Pay
FinTech BizNews Service
Mumbai, 8 October 2025: The Reserve Bank of India (RBI) Governor, Shri Sanjay Malhotra, today announced the launch of four new product offerings at the Global Fintech Festival (GFF) 2025. These are AI based UPI HELP powered by NPCI’s Small Language Model (SLM) providing assistance for payments, mandates, and dispute resolution, IoT Payments with UPI for enabling transactions directly from connected devices such as cars, smart TVs, and wearables, Banking Connect an interoperable net banking solution offering seamless payments and standardized merchant onboarding, and UPI Reserve Pay that will allow users to securely block and manage credit limits for specific purposes across merchant and UPI apps.
The launch took place in the presence of Shri Nandan Nilekani, Co-Founder & Chairman, Infosys and Hon. Advisor to NPCI on Innovations & Public Policy and Shri Ajay Kumar Choudhary, Non-Executive Chairman and Independent Director, NPCI along with senior bankers, fintech founders, and other participants from the banking and fintech ecosystem.
AI based UPI HELP – Small Language Model (SLM)
The RBI Governor announced the launch of AI based UPI HELP, an AI-powered support system designed to transform complaint resolution and mandate management. Developed in-house as a Small Language Model (SLM) trained extensively on payment data, UPI HELP currently supports English, with plans to expand to multiple Indian languages. The platform enables users to check transaction status, raise and track complaints, manage mandates, and provide contextual guidance, improving speed, accuracy, and overall experience. For banks, it streamlines complaint handling, reduces repetitive tickets and with privacy safeguards.
UPI HELP reinforces customer trust using AI-driven innovation, giving citizens secure and easy access to financial services. It reflects India’s growing leadership in using AI and technology for inclusive and impactful growth.
IoT Payments with UPI
The RBI Governor announced IoT Payments with UPI, extending India’s digital payments system beyond smartphones to a wide range of connected devices and intelligent software, reshaping possibilities across mobility, retail, and households adding significant convenience to customers.
Enabled by user-authorized IoTs capable of initiating UPI payments based on contextual triggers, routines, voice, or text instructions, operating across devices or cloud environments within user-defined limits. Users can make instant payments for services like fuel, EV charging, or other services via connected cars, smart glasses, or smart TVs, making transactions faster, smarter, and frictionless.
Aligned with the vision of Digital India this launch positions India at the forefront of real-time global payment solutions, with NPCI delivering secure, scalable, and future-ready IoT-enabled payment rails and frameworks.
Banking Connect – Interoperable Net Banking Solution
The RBI Governor announced the launch of Banking Connect, an interoperable net banking solution developed by NPCI Bharat BillPay Limited (NBBL). This launch brings to life RBI’s Payments Vision 2025 of enabling “E-payments for Everyone, Everywhere, Everytime,” by extending interoperability to internet and mobile banking transactions. The platform addresses long-standing net banking challenges, including cumbersome navigation, fragmented integrations, and inconsistent merchant onboarding, settlement, and dispute resolution processes. By removing these hurdles, customers can transact with greater ease and speed across online merchants using own Bank app.
Banking Connect offers two mobile-first payment options - QR and Intent, ensuring a seamless customer experience. It enables interoperability between banks and Payment Aggregators (PAs), eliminating the need for multiple one-to-one setups. With a single integration, PAs gain immediate access to all participating banks. For merchants, this platform streamlines settlement, reconciliation, and dispute resolution.
NBBL has collaborated with Banks and PAs to co-create a secure, convenient, and standard net banking experience for both consumers and merchants. Banking Connect marks another milestone in India’s journey towards a fully inclusive and interoperable digital payments ecosystem.
UPI Reserve Pay – Single Block Multiple Debt (UPI SBMD) on Credit Accounts
The RBI Governor announced the launch of UPI Reserve Pay to enable users to set aside (or “block”) a part of your credit card/pre sanctioned credit line limit to simplify repeat purchases across e-commerce platforms, food delivery apps, and cab aggregators by creating a seamless, native UPI experience. Customers gain complete transparency with a clear view of both blocked and utilized credit across merchant apps, UPI applications, and issuer platforms.
By combining transparency, security, and convenience, UPI Reserve Pay on Credit enhances trust in online commerce and empowers customers with greater convenience, control and flexibility in managing their digital payments.
Together, these launches reaffirm India’s commitment to building a secure, inclusive digital economy. With NPCI driving innovation under a progressive regulatory vision, they showcase the nation’s leadership in deploying future-ready, interoperable payment technologies that empower citizens and businesses alike.
