RBI Governor Malhotra meets bank CEOs on AI, loan rules
Business
RBI Governor Sanjay Malhotra just sat down with top bank CEOs in Mumbai to talk about some big topics: think artificial intelligence (AI), global tensions, and fresh guidelines for how banks handle risky loans.
This meeting happened as oil prices shot up after U.S.-Iran tensions, which could mean higher costs for India.
Banks struggle with forex deposit targets
Cybersecurity, forex retail, and digital currency also came up but weren't the main focus.
The banks are struggling to hit their foreign currency deposit targets because of shaky global markets and tough competition from overseas banks.
RBI leaders encouraged banks to do more than just offer higher interest rates if they want to attract deposits before the special window closes in September.