RBI to deploy artificial intelligence for monitoring compliance at banks and NBFCs
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Content Team
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A month back, India’s Finance Minister Nirmala Sitharaman had recommended AI and Web 3.0, among other technology, for banks to ensure compliance. Machine Learning is already being used by RBI for supervision, and now it wants to develop advanced analytics for the purpose. The strategy is to use machine learning models for supervisory examinations of NBFCs, payment banks, local banks, and small finance banks.
