India, March 28 -- The Uttar Pradesh government has cancelled a proposed Rs.25,000 crore Memorandum of Understanding (MoU) signed with Bengaluru-based startup Puch AI for developing artificial intelligence infrastructure in the state, citing lack of financial credibility on the part of the firm.

In a statement issued on the official handle of InvestUP on Thursday, the government said the decision was taken after a review conducted as per standard operating procedures revealed that the company did not possess the requisite net worth or credible financial linkages to execute a project of such magnitude.

"As per standard protocols laid by the state government, the MoU signed with Puch AI on March 23, 2026, was reviewed. Necessary details w...