Govt Regulations
RBI chief says AI can remake Indian banking if boards stay in charge
By Arjun
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11 Aug 8:09 PM
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Via Fortune India
Reserve Bank of India Governor Sanjay Malhotra told FICCI's FIBAC conference that AI could reshape banking as deeply as 1990s liberalisation and 2010s digitalisation, Fortune India reported. He said India's public digital stack, from Aadhaar and UPI to Account Aggregator tools, can support thin-file credit, multilingual voice banking, and faster fraud detection. He urged each bank to write its own AI playbook with governance and talent rather than copy one template. Why it matters: the central bank is pushing adoption while warning about exclusion risk. Caveat: the speech sets expectations, not a binding circular with deadlines.
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