Reserve Bank of India

The Reserve Bank of India is the central bank and primary financial regulatory authority of India, responsible for managing the nation's monetary policy, currency, and financial system stability.

Why it’s in the news: It is in the news for its continued stance on prohibiting cryptocurrencies, its regulatory discussions on payment systems, and its new proposals for governing AI in finance.

Latest on Reserve Bank of India

• Reserve Bank of India still favors crypto prohibition to curtail tax evasion: Reuters
• Talks On MDR On UPI At A Premature Stage: RBI Governor Sanjay Malhotra ↗
• EbixCash World Money gets perpetual RBI licence for trade and family remittances ↗
• When OpenAI's India operations team sits down with the Reserve Bank of India's fintech regulators — who in that room is prepared to explain why a U.S.-trained model should be trusted with Indian financial data?
• The Reserve Bank of India has proposed Project 'Kill Switch' to establish safety protocols for artificial intelligence systems used by banks and non-banking financial companies.
• India's Reserve Bank has given banks until Q4 2025 to prove they have AI governance frameworks in place
• India's Reserve Bank of Banking on Friday proposed guidelines requiring banks to establish board-approved risk management frameworks for all artificial intelligence and machine learning models they deploy.
• The RBI's framework assumes a sequence that doesn't exist in most institutions: assess the risk, then deploy the control.
• India's Reserve Bank announced proposed guidelines on December 20, 2024, requiring banks to establish frameworks for managing artificial intelligence risks.
• Meta's adding AI agents on top of that without first articulating how a chatbot's decision gets audited, reversed, or explained to the Reserve Bank of India
• India's small banks use RBI currency facility to chase diaspora deposits

Connections

8 entities linked to Reserve Bank of India across the news graph.