New Delhi, Aug. 11 -- Reserve Bank of India (RBI) Governor Sanjay Malhotra stated that India needs to shape its artificial intelligence (AI) journey rather than letting the technology shape the financial sector by default. Speaking at the FIBAC 2026 conference on Tuesday, the central bank chief emphasized that adopting AI requires a complete transformation in how institutions evaluate risk, serve customers, price capital, and organize operations.

"Doing business, doing banking, and so on, requires a total change in mindset," Malhotra said. "It's a shift in how we evaluate risk, serve customers, price capital, organize institutions. Happy to know many of the banks are already doing it. Some of you are considering doing it."

He added, "Th...