RBI Governor Sanjay Malhotra says AI could transform India's lending
Business
RBI Governor Sanjay Malhotra just shared at FIBAC 2026 that AI might shake up India's lending scene the same way UPI changed how we pay.
With digital tools like Aadhaar, UPI, DigiLocker, and more already in place, he thinks India is ready for smarter, faster financial services powered by AI.
RBI plans digital payments intelligence platform
Malhotra also said RBI is putting in place a Digital Payments Intelligence Platform to augment India's digital infrastructure and give banks a stronger base to use AI across lending and other financial services.
He pointed out that while AI can help reach people with little credit history, like gig workers or first-time borrowers, banks need to keep things transparent and protect user data as they adopt these tech upgrades.