RBI Reviews AI Adoption, Cybersecurity and Customer Service Across Banks

The Reserve Bank of India (RBI) has advised banks to increase the use of artificial intelligence and other advanced technologies while maintaining effective cybersecurity systems, internal controls and customer-data safeguards.

The direction was conveyed during the RBI’s half-yearly meeting with the Managing Directors and Chief Executive Officers of public sector banks and selected private sector banks in Mumbai. RBI Governor Sanjay Malhotra chaired the meeting, which was also attended by Deputy Governors and Executive Directors responsible for regulation, supervision, enforcement, financial inclusion, and consumer education and protection.

Technology Adoption and Operational Efficiency

The RBI encouraged banks to deploy AI and advanced digital solutions to enhance productivity, reduce operating costs, improve service delivery and extend financial services to a broader section of the economy.

The central bank also indicated that technology-led expansion must be supported by robust risk-management mechanisms. Banks were advised to strengthen cybersecurity infrastructure, internal monitoring systems and safeguards against fraud, data misuse and other technology-related threats. CA Sansaar