AI Goes Native: NPCI's Agent Protocol, ChatGPT Ads, and India's Taxation Reckoning

NPCI is set to unveil the Unified Agent Protocol at the Global Fintech Fest in Mumbai this week, giving AI agents the ability to execute small UPI payments without requiring explicit user approval for each transaction. The protocol leverages existing UPI Circle and Reserve Pay mechanisms, letting users delegate payment authority within pre-set limits — banks currently cap such blocks at ₹10,000 for up to 90 days, though these limits may be revisited for agentic use. Early use...