RBI Deputy Governor Rabi Sankar | Photocredit:
The Reserve Bank of India (RBI) has so far been in “No Rush” for public launch of Central Bank Digital Currency (CBDC) and focuses on the addition of more layers of user cases and programmability, said deputy Governor t Rabi Sankar on the side line of the Side Line.
“We are now focusing on creating sufficient usage, especially programmable.
Rabi Sankar said that the total number of CBDC users is around 70 Lakh and that the e-call can be used effectively for cross-border payments if other countries also adopt the digital currency.
You have in the financial sector
He said that AI can in essence expand financial access, strengthen guarantees and propose the efficiency of it again. It can lead to a better credit assessment through the use of alternative data such as transaction patterns and utility payments of non -balanced customers.
“The ability to use mass data sources can help with the real-time detection of fraud by identifying unusual transaction patterns or improving market risic modeling. Operational efficiency and cost reduction can get a paradigm shift with the help of AI, for example in back office processes, KYC, LENING.”
However, since AI systems are trained on enormous amounts of data, it is obvious that they also learn the prejudices that are inherent in data. AI systems that have been trained in biased historical data will probably maintain or strengthen historical discrimination, for example in credit profiling or recruitment.
“Even small prejudices in training data can lead to systematic exclusion of population groups of access to financial services. Algorithmic coverage would make it difficult to identify possible prejudices,” he said.
“The most important question is:” How can we engage innovation while we protect systemic stability? ” This balance is a need to ensure that AI strengthens the financial system instead of undermining, “he added.
Published on October 7, 2025
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