RBI to provide banks digital payments intelligence platform using AI
The Reserve Bank of India (RBI) will provide banks with a Digital Payment Intelligence Platform to help spot and stop payment fraud, using AI and machine learning.
Announced by Governor Sanjay Malhotra at the FIBAC 2026 conference in Mumbai, the platform will work with banks to tackle fraud in the digital payments ecosystem.
Sanjay Malhotra urges AI safeguards
Malhotra highlighted that advanced tech like AI and machine learning can tackle AI-driven frauds, saying, "AI and AI alone can use AI frauds."
He stressed banks need solid policies before jumping into AI tools, plus real human oversight, no matter how smart the tech gets.
Smaller banks working with outside vendors also need to step up data protection.
Malhotra also pointed out recent banking reforms and praised India's strong digital infrastructure but cautioned that misusing AI could leave some people behind.