Mumbai, Aug. 11 -- Indian banks need to take artificial intelligence beyond retail banking and use it to expand access to credit and financial services for rural India, small businesses and customers whose banking histories do not fit conventional models, State Bank of India Chairman Challa Sreenivasulu Setty said on Tuesday.

Speaking at the FIBAC 2026 annual banking conference in Mumbai, Setty said the next phase of AI-led banking must focus on translating technological capabilities into economic opportunities as India works towards its ambition of becoming a developed economy by 2047.

"To support that ambition, the next wave of AI led banking must take us deeper into the economy, to rural India, small businesses and customers whose ba...