RBI Governor Sanjay Malhotra urges banks use AI against fraud
Business
RBI Governor Sanjay Malhotra wants banks to get serious about using artificial intelligence (AI) to fight financial fraud.
At the FIBAC 2026 conference, he pointed out that old-school systems just can't keep up with today's tech-savvy scammers: "Fraud today moves at the speed of an API call," he said.
Sanjay Malhotra: AI spots suspicious transactions
Malhotra explained that AI can spot suspicious transactions in real time and stop losses before they happen.
He also sees AI helping banks improve risk checks, customer service, and even how they price capital.
His message was clear: banks need to understand AI and use it wisely. Otherwise, "you let AI shape you."