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RBI Digital Payments Initiatives

1 min read
RBI Grade BNABARD ESISEBI
AI-based UPI HELP
  • Purpose: Provides assistance for payments, mandates, and dispute resolution.
  • Features:
    • AI-powered support system for checking transaction status, raising complaints, managing mandates.
    • Enhances customer trust by making digital payments secure and easy to access.
IoT Payments with UPI
  • Purpose: Enables transactions directly from connected devices.
  • Supported Devices: Cars, smart TVs, smart glasses, wearables.
  • Functionality:
    • Payments can be initiated using contextual triggers, routines, voice, or text commands.
    • Works across devices or cloud environments within user-defined limits.
    • Ideal for instant payments for fuel, EV charging, and other services.
  • Impact: Makes transactions faster, smarter, and frictionless.
Banking Connect
  • Purpose: Interoperable net banking solution for smooth payments.
  • Features:
    • Enables seamless transactions across banks and payment aggregators.
    • Standardizes merchant onboarding and simplifies digital payment integration.
UPI Reserve Pay
  • Purpose: Provides secure control over credit limits for specific purposes.
  • Features:
    • Users can block and manage portions of credit limits across merchants and UPI apps.
    • Facilitates repeat purchases and budgeted spending.
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