Current Affairs - Banking - Discussion

India’s first AI-powered “phygital” bank branch was inaugurated in Guwahati, Assam, on May 16, 2026. Opened by Assam Chief Minister Himanta Biswa Sarma, the innovative branch of Slice Small Finance Bank combines physical banking services with advanced digital infrastructure. The facility uses AI-enabled self-service kiosks, paperless onboarding systems, and automated banking processes to enhance customer convenience and efficiency. One of its key features allows users to access working capital directly through UPI without a separate loan application. The initiative is designed to support digital transformation and improve financial accessibility for small business owners and women entrepreneurs.