RBI tells banks to finish gap assessments by June 2026
The Reserve Bank of India (RBI) asked banks and other regulated entities to complete a board-approved gap assessment and prepare a timebound action plan by the end of June 2026.
This means spotting weak spots, tightening cybersecurity, and having a plan ready fast.
Since only a handful of groups worldwide can use Mythos, Indian financial-sector entities are evaluating other publicly available advanced AI models to help assess risk.
Finance Minister warns of Mythos threat
Finance Minister Nirmala Sitharaman called Mythos "a new challenge has emerged in the form of Mythos," in April, urging stronger protection for customer data and IT systems.
Mythos is especially worrying because it can actually find and exploit software flaws on its own.
To stay ahead, banks were advised to coordinate with CERT-In and other concerned agencies to help banks get ready for these next-generation threats.