business 🛡️ RBI drops 10 rules for banks using AI tech
RBI Deputy Governor Rohit Jain has laid out 10 key requirements for banks to manage technology and cyber risks. These guidelines were shared by him at the State Bank of India Banking & Economic Conclave in Mumbai. The framework addresses increasing reliance on cloud, APIs, fintech, and AI models, especially as of Thursday. Jain stressed that governance must come before scaling AI, as technology is now part of a bank’s risk architecture. Banks must own technology governance while ensuring resilience and trustworthiness of the financial system. 🏦