RBI Deputy Governor Rohit Jain: Technology is core to banking
Business
RBI Deputy Governor Rohit Jain just told banks that technology is not a sidekick anymore. It is now at the heart of keeping things running smoothly.
Speaking at the SBI Banking Conclave, he warned that if key technology systems fail, it could mess up financial services and block customer access, even if the bank's finances look solid.
Rohit Jain urges stronger tech oversight
Jain urged banks to treat technology risk as a major issue needing strong oversight.
He pointed out that while AI can boost customer service and spot fraud faster, it also brings new risks if not carefully managed.
His advice? Bank leaders need to really understand their technology so they can keep everything resilient and trustworthy as digital banking grows.