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.

With a significance score of 2.7, this news ranks in the top 27% of today's 18215 analyzed articles.

Get summaries of news with significance over 5.5 (usually ~10 stories per week). Read by 9000 minimalists.

More on this topic:

[4.5]

Thailand accelerates AI development for fraud detection (BangkokPost.com)

Link Source

[3.9]

AI poses greater risk to Philippine BPO industry (inquirer.net)

1d 7h

Link Source

[3.8]

Indian banks integrate with I4C to combat fraud (economictimes.indiatimes.com)

1d 3h

Link Source

[3.2]

AI improves customer service efficiency, especially in India (zeenews.india.com)

<1h

Link Source

[3.1]

Qualtrics launches empathetic AI agents for customer service (zdnet.com)

15h

Link Source

[3.1]

Committee seeks broader malware data sharing in India (economictimes.indiatimes.com)

15h

Link Source

[2.7]

India's central bank urges banks to adopt AI solutions (channelnewsasia.com)

12h

Link Source

[2.7]

Crisil CEO emphasizes ratings based on audited information (economictimes.indiatimes.com)

1d 9h

Link Source

[2.5]

Teleperformance uses AI to modify Indian call center accents (timesofindia.indiatimes.com)

1d 20h

Link Source

[2.3]

Indian Banks’ Association urged to enhance innovation, regulation (moneycontrol.com)

16h

Link Source