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RBI Governor underscores need to eliminate biases in algorithms as artificial intelligence and machine learning

RBI Governor underscores need to eliminate biases in algorithms as artificial intelligence and machine learning

by AIP Online Bureau | Jun 28, 2024 | Banking & Bancassurance, Eco/Invest/Demography, Indian News, Regulation, Technology

Shaktikanta Das,Governor, Reserve Bank of India RBI Governor Shaktikanta Das highlighted efforts by the RBI to harness digital footprints and computing power to analyze expectations, sentiment indicators, and policy credibility from alternative data sources. The...

Financial Intelligence Unit arms itself with AI, ML tools to check money laundering

by AIP Online Bureau | May 5, 2024 | Eco/Invest/Demography, Indian News, Policy, Risk Management, Technology

“Various measures are put in place to ensure security of data, including strong, end-to-end encryption, automatic blocking of logins after a set number of unsuccessful login attempts, controlled access to content stored on the portal, logging of security...
RBI selects McKinsey and Company, Accenture Solutions to use AI, ML to improve regulatory supervision

RBI selects McKinsey and Company, Accenture Solutions to use AI, ML to improve regulatory supervision

by AIP Online Bureau | Aug 13, 2023 | Banking & Bancassurance, Indian News, Regulation, Technology

The RBI is looking to extensively use advanced analytics, artificial intelligence and machine learning to analyse its huge database and improve regulatory supervision over banks and NBFCs. For this purpose, the central bank plans to hire external experts Mumbai: The...
RBI selects McKinsey and Company, Accenture Solutions to use AI, ML to improve regulatory supervision

RBI plans to extensively use AI, ML to improve regulatory supervision

by AIP Online Bureau | Oct 6, 2022 | Banking & Bancassurance, Indian News, Regulation

The supervisory jurisdiction of the RBI extends over banks, urban cooperative banks (UCB), NBFCs, payment banks, small finance banks, local area banks, credit information companies and select all India financial institutions The Reserve Bank is planning to extensively...

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