Banks must understand artificial intelligence deployment for future success. AI can enhance financial inclusion and improve existing public good projects. Careless AI use risks new forms of exclusion and instability for banks. The RBI plans an approved AI governance policy and a testing sandbox. Banks need deliberate strategies, sustained investment, and strong governance for AI.

Before investing in AI, business leaders should ensure their organisations have robust data governance, high-quality data and integrated information flows across finance,…

RBI Governor Sanjay Malhotra said banks that succeed in the AI era will be those that understand the technology they deploy and maintain clear accountability for its outcomes,…

In a recent statement, CS Setty, Chairman of the State Bank of India, underscored AI's transformative potential for the Indian banking sector. He asserted that widening credit…

RBI chief urges Indian banks to invest in AI while highlighting associated risks like bias, data privacy, and cybersecurity threats.

MUMBAI: RBI governor Sanjay Malhotra said AI could do to lending decisions what UPI did to payments and urged banks not to sit on the sidelines as India is well placed to adopt…

MUMBAI: Artificial intelligence could help banks expand credit to rural India, small businesses and farmers while improving risk assessment and productivity, SBI chairman CS Setty…