RBI India Speeches

AI in Finance: What Can Change, What Must Never Change - XX CUB Shri V Narayanan Memorial Lecture

RBI Deputy Governor Swaminathan J delivered the XX CUB Shri V Narayanan Memorial Lecture at SASTRA University, Thanjavur, on April 11, 2026, on the topic 'AI in Finance: What can change, what must never change.' The speech outlined opportunities AI presents for financial inclusion, credit delivery, fraud detection, and supervisory compliance, alongside five major concerns: bias and unfair outcomes, opacity, data privacy and misuse, third-party risk, and cybersecurity. Financial institutions should monitor RBI's supervisory direction on AI governance.

Sanjay Malhotra Keynote - Regulation and Supervision Adapting to the Digital Age

RBI Governor Sanjay Malhotra delivered the keynote at the Third Annual Global Conference of the College of Supervisors in Mumbai on January 9, 2026, outlining five strategic priorities for regulatory and supervisory adaptation to the digital age: systemic resilience as a collaborative effort, supervisory action and enforcement as corrective measures, effective use of data, customer-centricity, and capacity building. The Governor emphasised that enforcement and penalties are measures of last resort within a supervisory continuum, and outlined initiatives including the Supervisory Data Quality Index, SupTech and AI-enabled tools, and platforms like CIMS and DAKSH.

RBI Governor on India's Growth and Global Challenges

RBI Governor Sanjay Malhotra delivered an address at Princeton University on April 18, 2026, outlining India's economic growth trajectory and the Reserve Bank of India's role in maintaining price stability and navigating global challenges. India grew at an average of 6.1% annually over the last decade, outpacing global growth of 3.2%, China's 5.6%, and Indonesia's 4.2%. The Governor discussed the Flexible Inflation Targeting framework adopted in 2016, which targets 4% inflation with a 2% tolerance band, noting that average headline inflation dropped to 4.7% under FIT versus 7.4% prior to its adoption. Key monetary policy principles include prioritising robustness over optimality, applying Brainard's principle of attenuation, anchoring inflation expectations, maintaining transparency, and providing clear communication.