India must shape AI journey, not be shaped by default

The head of India's central bank, called the Reserve Bank of India, gave a big speech to bankers.

His name is Sanjay Malhotra.

He said India should decide how to use artificial intelligence, which is when computers do smart tasks that usually need human thinking.

He warned that if India does not make its own choices, the technology will make the choices for us.

He said India is lucky because it already has great digital tools like UPI, which lets people pay using phones, and Aadhaar, a digital identity card.

These tools make India a great place to build smart banking services.

He also said AI will change how banks check risks and help customers.

Malhotra shared news that banks are on track to follow new safety rules called Basel III starting next year.

He also told everyone that the central bank has made rules simpler and processes applications faster.

His main message was to guide AI wisely so it helps everyone.