A Hybrid Capability-Building Programme for Banks, NBFCs & Regulated Financial Institutions
Self-Paced Online Courses + Live Faculty-Led Immersion + Dual Certification under BFSI Sector Skill Council of India & RMAI
- Executive Summary
Artificial intelligence is moving from experimentation to expectation across India’s banking and financial services sector. Regulators have made clear that AI adoption must be matched by AI capability, governance and oversight at every level of the organisation, not only within technology teams.
This proposal outlines a hybrid AI in Banking training programme jointly delivered by the Risk Management Association of India (RMAI) and Smart Online Course, combining structured self-paced online learning with live, faculty-led immersion sessions. The programme is designed to be scalable across institutions of any size, from a single department to an enterprise-wide rollout, and culminates in dual certification under the BFSI Sector Skill Council of India (BFSI SSC) and RMAI.
- Why This Programme, Why Now
The Reserve Bank of India’s Framework for Responsible and Ethical Enablement of Artificial Intelligence (FREE-AI), released in August 2025, identifies capacity building as one of its core strategic pillars, calling on regulated entities to put in place structured training programmes on AI governance and risk mitigation at all levels of the organisation. RBI’s own survey work found that only around one-fifth of surveyed banks, NBFCs and fintechs were actively using or developing AI systems, with smaller institutions lagging furthest behind in governance readiness.
RBI has followed this with a draft Guidance on Regulatory Principles for Model Risk Management, open for public comment, which extends model risk expectations, including AI and machine-learning models, across commercial banks, small finance banks, payments banks, regional rural banks, co-operative banks, NBFCs, all-India financial institutions, asset reconstruction companies and credit information companies. Together, these developments mean that AI literacy and AI risk governance are becoming a baseline expectation for regulated entities, not a discretionary upskilling initiative.
| The Regulatory Window
Capacity building is now an explicit RBI expectation under FREE-AI, and the draft Model Risk Management guidance widens AI governance obligations across almost every category of regulated entity. Institutions that build AI literacy and governance capability now will be better positioned for supervisory engagement, board reporting and audit readiness as these expectations firm up. |
- Institutional Credibility
Risk Management Association of India (RMAI)
RMAI is a professional body with a 32-plus year legacy dedicated to education, research and capability-building in risk management. RMAI has trained more than 10,000 professionals across banking, insurance and financial services through structured programmes, webinars and knowledge initiatives.
Smart Online Course
Smart Online Course is the eLearning platform and training arm of RMAI, offering 75-plus courses and 600-plus hours of BFSI and risk-focused content, accredited by the BFSI Sector Skill Council of India under NSDC. Every course includes an AI mentor trained on that course’s content, along with implementation toolkits, checklists and a comprehensive eBook.
- Programme Design: A Hybrid Learning Model
The programme is built around a simple, proven learning journey that blends the consistency of self-paced digital content with the depth of live, faculty-facilitated discussion:
- Diagnostic mapping: a short skill-gap assessment identifies the right starting point and course mix for each learner group.
- Self-paced online learning: structured video lessons across three AI-focused courses, supported by an AI mentor, MCQ assessments after every lecture, and downloadable toolkits.
- Live faculty-led immersion: a customised 2 to 3 day session (in-person or virtual) that converts online learning into applied, decision-oriented capability through case discussions, scenario analysis and group exercises.
- Assessment and dual certification: learners are evaluated through module-level MCQs and the live session, leading to joint certification from BFSI Sector Skill Council of India and RMAI.
Because the online component is self-paced and digitally delivered, the programme places no constraint on cohort size. It is equally suited to a single risk or technology team or a multi-thousand-employee, enterprise-wide rollout, with reporting and dashboards available at the individual, team and institutional level.
- Online Course Modules
The online component spans three purpose-built courses covering applied AI in banking, the NIST AI Risk Management Framework, and enterprise AI risk management, for a combined 32 hours of self-paced learning.
Course 1: AI in Banking
15 Hours | Self-paced | Online | AI Mentor-supported
- Introduction to Risk Management
- Module 1 – Introduction to AI in Banking
- Module 2 – AI Applications Across Banking Functions
- Module 3 – Data, Analytics & Decision Intelligence
- Module 4 – Digital Lending & Embedded Finance
- Module 5 – Tech Tools – RPA, AI, Cloud & Dashboards
- Module 6 – Cybersecurity & AI-Driven Risk Management
- Module 7 – Customer Experience & Personalization
- Module 8 – Blockchain & Smart Contracts in Banking
- Module 9 – Open Banking & API Ecosystems
- Module 10 – RegTech & SupTech
- Module 11 – AI Governance, Ethics & Human Oversight
- Module 12 – Risk & Limitations of AI in Banking
- Module 13 – Global Trends & India Outlook
Course 2: Responsible AI Risk Management using the NIST AI RMF
9 Hours | Self-paced | Online | AI Mentor-supported
- Module 1 – Introduction to Responsible AI & NIST AI RMF
- Module 2 – Core Structure of NIST AI RMF
- Module 3 – MAP Function – Risk Context & AI Use Understanding
- Module 4 – MEASURE Function – Assessing and Quantifying AI Risk
- Module 5 – MANAGE Function – Mitigating & Responding to AI Risks
- Module 6 – GOVERN Function – Oversight, Policy & Global Standards
- Module 7 – Industry Use Cases of NIST AI RMF
- Module 8 – Toolkits, Glossary & Downloadable Resources
Course 3: Risk Management for Artificial Intelligence
8 Hours | Self-paced | Online | AI Mentor-supported
- Module 1 – Understanding AI Risks in Organisations
- Module 2 – Global AI Regulations & Standards
- Module 3 – Bias, Fairness & Explainability
- Module 4 – Data Security, Privacy & Piracy Threats
- Module 5 – Adversarial & Systemic AI Risks
- Module 6 – AI in BFSI & Insurance – Risks & Controls
- Module 7 – AI Governance, Audit & Best Practices
- Module 8 – Future Challenges & Failures in AI
- Live Faculty-Led Immersion
The live component is delivered by RMAI’s Academic Council members and senior BFSI practitioners with decades of combined industry experience across banking, risk and technology functions. Sessions are fully customisable to an institution’s specific AI maturity, regulatory context and risk priorities.
- Duration: 2 to 3 days, delivered in-person or virtually, scaled to the depth of coverage required.
- Format: faculty-led sessions, case discussions, scenario analysis, group exercises and structured debriefs.
- Focus: converting the concepts covered online into applied judgement, covering AI governance frameworks, model risk oversight, regulatory expectations and institution-specific use cases.
- Customisation: agenda, case studies and depth of coverage are tailored to the institution’s existing AI footprint, regulatory category and the seniority of the participating cohort.
- Certification: BFSI Sector Skill Council of India & RMAI
On successful completion of the online modules and the live immersion, participants receive dual certification:
- A formal Participation Certificate issued under the BFSI Sector Skill Council of India (BFSI SSC) framework, established under NSDC and the Government of India’s Skill India Mission.
- A Programme Completion Certificate from the Risk Management Association of India (RMAI).
This dual certification provides a meaningful, industry-recognised credential for governance documentation, supporting RBI supervisory engagement, audit committee reviews and individual professional development records.
- Who Should Enroll
The programme is designed for AI literacy and AI risk governance training across the full spectrum of RBI-regulated entities, including:
- Commercial Banks (Public, Private and Foreign)
- Small Finance Banks and Payments Banks
- Regional Rural Banks
- Urban and Rural Co-operative Banks
- Non-Banking Financial Companies (NBFCs)
- All India Financial Institutions
- Asset Reconstruction Companies (ARCs)
- Credit Information Companies (CICs)
- Insurance Companies and Intermediaries
Within each institution, the programme is equally relevant for risk, compliance and audit teams, technology and digital teams, business and product teams adopting AI tools, and senior management and board members responsible for AI governance oversight.
- Why RMAI
RMAI’s training programmes are backed by a consistent track record of corporate and institutional capability-building across BFSI and allied sectors, delivered through both offline workshops and live virtual formats:
| Organisation | Engagement |
| PNB MetLife Insurance Company Ltd | Training on Enterprise Risk Management and Financial Risk |
| YES Bank | Online training on Risk Management |
| NLC India Limited (Govt. of India Enterprise) | Training on Risk Management for Department Heads |
| Security Printing and Minting Corporation of India Ltd | Training for Board of Directors on Risk Management |
| Stock Holding Corporation of India, Mumbai | Online training on Risk Management |
| Nepal Life Insurance Company & Nepal Investment Mega Bank | Sessions on ERM and Risk Management implementation |
| National Life Insurance Company Ltd, Dhaka, Bangladesh | 15+ training batches on Insurance, Sales and Risk |
| Financial Institutions Training Institute, Thimphu, Bhutan | Fraud Risk Management training |
| Jubilee Insurance, Tanzania | International course on Risk Management |
- Next Steps
We would welcome the opportunity to walk your team through the online course content, the AI mentor experience, and a sample live-session agenda, and to tailor the programme to your institution’s regulatory category, AI maturity and learner cohort.
Get in touch
Risk Management Association of India | Smart Online Course
Email: info@rmaindia.org
Phone: +91 9830021124
