The emerging role of AI in the financial ecosystem should reduce uncertainties and expand opportunities for all stakeholders to advance inclusion, maximise efficiency and strengthen trust” said J.Swaminathan, Deputy Governor of Reserve Bank of India.
Delivering the 20th CUB V Narayanan Memorial Lecture at SASTRA Campus in Thanjavur, the DG of RBI laid down a five-point charter guidelines for full-scale AI adoption in the Financial & Banking industry. These include human responsibility, fairness & explainability, strong data governance, institutional adoption maturity and inclusivity by design. These five points ensure fair outcomes, transparency, humane approach, democratisation and risk prevention said the DG.
Speaking on the topic “AI in Finance – What can Change and what should not” the Deputy Governor shared valuable insights on customer & data sensitivities, non-isolation of small borrowers & malicious automation besides highlighting the need for human responsibility & accountability for AI assisted decisions. “Financial decision making cannot be a back box theory and it requires tremendous institutional responsibility” said the DG.
The lecture was attended by the Chairman & Board of Directors of City Union Bank, other banking professionals & executives from various banks, faculty & staff of SASTRA. S Vaidhyasubramaniam, Vice-Chancellor, SASTRA University welcomed the gathering and N Kamakodi, MD & CEO of City union bank proposed the vote of thanks, says a release.
Published on April 12, 2026
