UPI to support AI-powered conversational payments
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The Reserve Bank of India (RBI) is exploring the use of artificial intelligence (AI) for conversational payments on the Unified Payments Interface (UPI). The central bank has also raised the limit of UPI Lite transactions to Rs. 500. The previous limit was Rs. 200. The UPI Lite feature uses an on-device wallet instead of a customer's bank to process payments without requiring a PIN.