India's central bank urges banks to adopt AI solutions

channelnewsasia.com — March 17, 2025 at 05:01 PM UTC

India's central bank governor, Sanjay Malhotra, urged banks to use artificial intelligence to handle consumer complaints more effectively. He noted that over 10 million complaints were filed by customers in the last financial year. Malhotra highlighted that AI can help banks analyze data to identify issues like ATM failures and incorrect charges. He suggested that AI tools, such as chatbots, could also help overcome language barriers in India. Additionally, he emphasized the need for banks to invest in staff training to enhance customer service and improve complaint resolution processes.

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