SBI chairman stresses banks’ role in India’s growth

State Bank of India Chairman C.S. Setty has underlined the crucial role of the banking sector in supporting India’s economic transformation, emphasising that banks will remain central to infrastructure financing, digital expansion and inclusive development. Speaking at a recent industry Read More …

AI Can Transform Credit, Fraud Detection and Risk Management: RBI Deputy Governor

Swaminathan J highlighted the transformative potential of artificial intelligence (AI) in the financial sector, while cautioning against unchecked adoption, in his speech titled “AI in Finance: What can change, what must never change.” He noted that AI-driven systems can significantly Read More …

RBI cautions: Don’t let AI hype overshadow risk management

The Reserve Bank of India (RBI) has urged financial institutions and technology adopters to strike a balance between the rapid adoption of Artificial Intelligence (AI) and robust risk management practices. While acknowledging the transformative potential of AI in improving operational Read More …

World Bank’s ‘Back to Basics’ campaign aims to simplify economic concepts for all

The World Bank has launched an innovative storytelling initiative titled ‘Back to Basics’, aiming to make complex economic and development concepts accessible to a broader audience. Through immersive content, visual explanations, and real-life examples, the platform demystifies essential topics like Read More …

Sitharaman Urges Fintechs to Bolster Risk Controls Against AI Misuse

Finance Minister Nirmala Sitharaman has called on fintech companies to enhance their risk management frameworks to prevent the misuse of artificial intelligence (AI). Speaking at the Global Fintech Fest, she emphasized the need for responsible AI deployment, particularly in financial Read More …

IMF Urges Indian Banks to Adopt Global Credit Risk Standards and Improve Supervision

India’s financial system has grown stronger, but IMF says banks need to align more closely with international norms like IFRS 9. In its latest Financial System Stability Assessment (FSSA), the International Monetary Fund (IMF) asked Indian banks to adopt global Read More …