AI can make more Indians bankable, to shape this decade of banking: RBI Guv

RBI Governor Sanjay Malhotra said on Tuesday that artificial intelligence has the potential to transform credit delivery, improve customer service and accelerate financial inclusion in India, urging banks to adopt the technology responsibly and shape their artificial intelligence journey with intent rather than letting it evolve by default.

Delivering the inaugural address at the FIBAC 2026 conference, he described artificial intelligence as a defining force for Indian banking, comparable to the impact of economic liberalisation in the 1990s and digitalisation in the 2010s. "The theme of the conference - Artificial Intelligence - has been well chosen. It is apt and timely. It is a theme that, I believe, will define this decade of Indian banking as decisively as liberalisation defined the 1990s and digitalisation defined the 2010s," Malhotra noted.  -IANS

‘BRICS grouping discussing linking CBDCs, fast payment systems’

The RBI Governoron Tuesday said the BRICS nations are in discussions to link their respective central bank digital currencies and fast payment systems, such as India's UPI, to facilitate cheaper and faster fund transfers for trade and remittances. He said cross-border payments are "an area of interest for all of us", including the BRICS bloc, because there is a lot of scope to reduce costs, especially for retail transactions, and increase the speed.