News: National Payment Corporation of India(NPCI) has launched an artificial intelligence(AI) based chatbot named PAi.
- Purpose: To create awareness and solve the queries around NPCI’s products like FASTag, RuPay, UPI, AePS on a real time basis which will in turn help in improving the digital financial inclusion in India.
- NPCI: It is an umbrella organisation for operating retail payments and settlement systems in India.
- It is an initiative of Reserve Bank of India (RBI) and Indian Banks Association (IBA) under the provisions of the Payment and Settlement Systems Act, 2007.
- It has been incorporated as a Not for Profit Company under the provisions of Section 25 of Companies Act 1956 (now Section 8 of Companies Act 2013).