India’s central bank wants AI to approve loans that humans would reject
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The Register
technewstube.comIndia’s central bank wants AI to approve loans that humans would reject
The governor of India’s Reserve Bank wants the nation’s financial institutions to use AI to approve loans that human assessors would likely reject. In a speech delivered yesterday at the FIBAC conference in Mumbai, Sanjay Malhotra said the regulator “sees AI as a capability to be responsibly harnessed and not merely as a risk to be contained,” then offered several reasons to support that statement. The first reason is that banks currently find i…
On 11 August 2026 in Mumbai, Governor Sanjay Malhotra asked Indian banks to automatically evaluate people without financial history, in an official speech by the Reserve Bank of India [RBI] at the FIBAC 2026 banking conference. His bet is aimed at platform workers, first-time borrowers and small businesses that traditional balance sheets make almost invisible. IA's credit would use their cash flows and regular payments without relieve the bank o…
The Indian central bank is examining the use of AI to lend to more people and improve access to banking services.
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