Indian banks advised to adopt AI and Blockchain technology
By MYBRANDBOOK
A top federal official of India’s central bank has advised all the banks to adopt artificial intelligence and blockchain technology in order to gain sustainable growth and stability.
Deputy Governor Mahesh Kumar Jain in a conference organized by the Reserve Bank of India (RBI) for the directors of Indian banks discussed the risk strategies around sustainable growth and stability.
Jain spoke about the importance of effective corporate governance and governance structure and processes when it comes to staying prepared for future risks. Technological disruptions, evolving customer expectations and cybersecurity threats, among other things, have put forth new sets of risks for the banks across technology, business and operations. His advice for addressing these challenges was to focus on tech adoption.
“To prepare for the future," Jain recommended that Indian banks “adopt innovative technologies such as AI and blockchain," along with focusing on digital transformation, enhancing customer experience, and investing in cybersecurity measures.
The Reserve Bank of India (RBI) introduced digital currency on November1 and started being tested for offline functionality in March. During that time, Ajay Kumar Choudhary, Executive Director of RBI shared India’s intention to use its CBDC as a medium of exchange.
Singapore to remove One-Time Passwords from Bank Accounts
According to the Monetary Authority of Singapore, clients who utilise secur...
Is 375 million Airtel subscribers database breached?
When a hacker claims to have accessed and put up for sale a customer databa...
The government of India intends to construct a single portal f
A single portal will be launched by the Indian government to list all of it...
OpenAI offers GPT-4o, a faster model available to all users at
GPT-4o, a faster and more sophisticated AI model, is made available to all...
Icons Of India : NATARAJAN CHANDRASEKARAN
Natarajan Chandrasekaran (Chandra) is the Chairman of Tata Sons, the h...
Icons Of India : PRATIVA MOHAPATRA
Prativa is a transformational leader with an incredible breadth of exp...
Icons Of India : B.V.R. Subrahmanyam
A 1987 batch (Chhattisgarh cadre) Indian Administrative Service Office...
NSE - National Stock Exchange
NSE is the leading stock exchange in India....
C-DAC - Centre for Development of Advanced Computing
C-DAC is uniquely positioned in the field of advanced computing...
CSC - Common Service Centres
CSC initiative in India is a strategic cornerstone of the Digital Indi...
Indian Tech Talent Excelling The Tech World - Soni Jiandani, Co-Founder- Pensando Systems
Soni Jiandani, Co-Founder of Pensando Systems, is a tech visionary ren...
Indian Tech Talent Excelling The Tech World - Sanjay Mehrotra, CEO- Micron Technology
Sanjay Mehrotra, the President and CEO of Micron Technology, is at the...
Indian Tech Talent Excelling The Tech World - Satya Nadella, Chairman & CEO- Microsoft
Satya Nadella, the Chairman and CEO of Microsoft, recently emphasized ...