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Speaking at FIBAC 2026 in Mumbai, RBI Governor Sanjay Malhotra outlined five areas where AI can reshape Indian banking, saying AI can “extend the frontier of bankable India considerably” by using alternative data such as “cash flows, GST filings, utility payment bills” for credit. He said AI “has the potential to be profoundly inclusive technology” through “Voice interfaces in Indian languages” and that “It is AI and AI alone that can beat AI delivered frauds,” while urging banks to adopt a “deliberate board-driven strategy backed by sustained investment” and stressing, “None of this will happen overnight and none of this will happen by accident.”