RBI Governor says AI alone can help limit AI frauds

The Reserve Bank of India is the big bank that looks after money in India.

Its leader, Sanjay Malhotra, gave a speech asking banks to use computers that can learn, called artificial intelligence, or AI for short.

He said people who steal money online move very fast, like a quick blink on a computer.

The old rules banks use cannot catch them fast enough.

But smart AI programs can watch millions of money movements and spot something strange right away.

He also said AI can help more people and small businesses get loans more easily.

India has super digital tools like UPI that help people pay instantly, which makes AI very useful there.

The big bank also made a group of experts to make sure AI is used fairly and safely.

Malhotra said the best banks will be the ones that understand AI well and take responsibility for how it works.