The National Payments Corporation of India (NPCI) announced the launch of "India Financial Model (FiMi) Bank," a "sovereign compact model" specifically designed for Indian retail banking applications, developed in collaboration with HDFC Bank. Based on Google's Gemma open-source model, FiMi Bank has undergone additional training by NPCI using Indian retail banking scenarios. It aims to handle complex task execution within banking rules and existing systems, rather than merely responding to queries. NPCI also released benchmarks, evaluation sets, and a technical paper for assessing the performance of banking AI agents, along with an open evaluation framework for developers, banks, and fintech companies to test their AI agents.