India, Oct. 7 -- The Reserve Bank of India's (RBI) recent committee report and framework titled "Framework for Responsible and Ethical Enablement of Artificial Intelligence (FREE-AI)" is a testament to imminent AI integration in banking. But organisational adoption of AI has gained infamy for layoffs and mixed opinions on user experience.

According to the World Bank, 89% of adult Indians had a financial account in 2024. This was a huge leap from 35% in 2011. Digital payment adoption and the Pradhan Mantri Jan Dhan Yojana (PMJDY) - a financial inclusion program launched in 2014 by Prime Minister Narendra Modi - are credited for motivating such a shift. With that many citizens connected to the banking sector, even a minor change will have ...