RBI Governor warns careless AI use could create new forms of financial exclusion, instability
Mumbai (Maharashtra) [India], August 11 (ANI): Artificial intelligence (AI), if deployed carelessly in the financial sector, could create new forms of exclusion and financial instability at a pace that regulators and banks may struggle to manage, Reserve Bank of India Governor Sanjay Malhotra said on Tuesday.
Speaking at the FIBAC 2026 Conference in Mumbai, Malhotra said India has a unique advantage because of its advanced public digital infrastructure, including Aadhaar, UPI, DigiLocker, ONDC, Account Aggregator and ULI.
