The Reserve Bank is strengthening its digital payments ecosystem by building advanced digital public infrastructure (DPI) and intelligence platforms powered by artificial intelligence and APIs, according to a senior official.
Speaking at MPAI Merchant’s Day 2026, P Vasudevan, executive director of RBI, said the central bank is actively developing new DPIs by leveraging emerging technologies. “We are also creating more and more DPIs. We are talking about the use of AI to create all those DPIs and APIs. Of course, AI and APIs are going to be the future of all these DPIs and for all your online activities,” he said.
He highlighted that AI will play a key role in improving customer journeys and automating grievance handling as digital transactions continue to grow.
“For example, let us say I make a UPI transaction and I have an issue, the transaction doesn’t get completed. It automatically picks up this as a grievance and tries to complete the journey. That’s what UPI Help is also expected to learn from itself and then try to provide solutions that are going to be useful to the individual,” he added.
Vasudevan noted that such AI-led systems can help financial institutions save time and resources by reducing the need for manual intervention, especially as transaction volumes increase.
“When the volumes are increasing, definitely the friction points will also increase. It’s time for us to look at some of those things to help the user journeys happen much better,” he said.
He also stressed the importance of interoperability in creating seamless payment experiences. The central bank aims to enable multiple systems and databases to work together to deliver a more integrated and efficient service to users.
“If you can interoperate or make these multiple disparate systems come together and then try to give a customer the holistic experience, maybe going forward we’ll have startups coming in and saying that yes, I’ve created something like this for a seamless user journey,” he said.
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