Economy · India
RBI Governor Outlines AI Strategy and Banking Reforms
Reserve Bank of India (RBI) Governor Sanjay Malhotra has directed banks to use Artificial Intelligence (AI) responsibly, emphasizing that banks will be accountable for every decision made using AI. He stated that AI can transform credit, services, inclusion, and fraud detection, and that banks understanding AI will succeed. Malhotra also addressed inflation, stating it is "more or less under check," and discussed new loan recovery rules, limiting calls to between 8 AM and 7 PM and requiring notice before visits. The RBI aims for AI to be harnessed responsibly, not viewed solely as a risk, and has outlined a governance roadmap for its adoption.
How outlets across the spectrum covered it
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- Centre (5): Business Standard, Business Today, The Economic Times, The Financial Express, The Hindu BusinessLine
- Right (3): Punjab Kesari, Swarajya, Times Now
- International (2): Bloomberg, Financial Times