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Machine learning, AI models to power RBI's deep check.


Date: 21-02-2025
Subject: Machine learning, AI models to power RBI's deep check
MUMBAI: The Reserve Bank of India (RBI) will use artificial intelligence (AI) and machine learning (ML) tools to predict future outcomes, spot abnormal activities, and manage risks in a fast changing financial landscape.

Besides catching hints of asset bubbles and sensing early signs of market disruptions by analysing patterns from historical data, macroeconomic numbers, and market behaviour, AI and ML models may come handy in 'stress testing' of banks. It could help regulators to be better positioned in ensuring that banks have enough capital to absorb shocks from slowing economy and plunging markets.

The regulator is revamping its standing committee of analytics with revised terms of reference to fulfil specific requirements of RBI's supervisory functions, a person familiar with the subject told ET.

The amended terms of reference of the panel now includes:

Assess the advanced statistical models being used in the department;

Assess the proposed models for 'predictive analysis', particularly use of AI and ML;

Assess capabilities of the existing staff engaged in analytics an recommend training;

Suggest optimal IT resources an system features for use of advanced analytical methods;

Assess global developments in the use of analytics for financial supervision so that new tools can be adopted.

 Source Name : Economic Times

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