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Banking - General Knowledge Questions
Which Bank has introduced Artificial Intelligence-powered conversational features on UPI, in August 2023?
A)
State Bank of India (SBI)
B)
Punjab National Bank (PNB)
C)
Reserve Bank of India (RBI)
D)
Union Bank of India (UBI)

Correct Answer :   Reserve Bank of India (RBI)

The Reserve Bank of India (RBI) has introduced Artificial Intelligence-powered conversational features on UPI, in August 2023.

* Thursday (10th August 2023) with the announcement by the Reserve Bank of India on the addition of conversational payments and offline capability to UPI Lite. The central bank increased the UPI light payment cap from ₹200 to ₹500.

* Aims : To enable digital payments through voice commands .

* The concept, known as “Conversational Payments,” introduces a dynamic and user-friendly approach to transactions.

* Objectives : To allow users to initiate payments seamlessly within chat or messaging conversations, transforming routine interactions into instant financial exchanges.

Source : Industry Wired

Published On : August 11, 2023
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