J Swaminathan warns technology cannot replace human judgment in banking
RBI Deputy Governor J Swaminathan, speaking in Chennai, highlighted that while technology makes banking faster and easier, it can't replace human judgment when it comes to fairness and managing risks.
He urged banks to blend smart technology with real-world experience and strong oversight to truly serve people, not just chase numbers.
C Rangarajan backs balanced innovation policies
Swaminathan's message was backed by former RBI Governor C Rangarajan, who called for policies that balance innovation with stability instead of piling on rules.
VN Shiva Shankar from SICCI also pointed out the need for strong leadership and constant learning as the finance world keeps changing.
The big takeaway: successful banking is about more than algorithms: it's about thoughtful decisions that put people first.