National Payments Corporation of India (NPCI) introduced FiMI Banking, a sovereign compact AI model for retail banking, at the Global Fintech Festival 2026. The model utilizes Google's open-source Gemma architecture and was trained exclusively on synthetic data to ensure financial data sovereignty.
HDFC Bank, the largest private sector lender in India, is collaborating on the project to refine the model. FiMI Banking is designed to handle agentic tasks, allowing it to process multi-step banking processes while adhering to Indian regulatory requirements.
NPCI also released two benchmarking tools: IndicBank Bench, featuring 799 multi-turn test cases across six domains, and the Tau² Agentic Banking Benchmark, which includes 1,000 tasks derived from 50 scenarios simulating customer interactions.
The organization plans to open-source both benchmarks, technical documentation, and evaluation sets. This initiative aims to provide developers, banks, and researchers with a standardized framework for testing AI agents without using proprietary customer records.
