RBI Governor Shaktikanta Das emphasized the transformative potential of advanced and emerging technologies such as artificial intelligence (AI), machine learning (ML), and big data analytics in financial institutions. Speaking at the second edition of the global conference on financial resilience organized by the College of Supervisors (CoS) of RBI in Mumbai, the Governor noted that AI and ML can significantly enhance predictive analytics, enabling banks and NBFCs to identify potential risks and trends more accurately.
Governor Das highlighted the importance of the financial sector adopting an adaptive and forward-looking approach to navigate emerging challenges. He stressed the need to strengthen governance and risk management practices, employ sustainable business models, and embrace technological advances to our advantage. Mr. Das assured that the Reserve Bank will continue to fine-tune the regulatory architecture and supervisory rigour as needed to promote the long-term resilience and stability of the financial system.
