Mumbai

November 28, 2025

RBI and C-DAC Mumbai successfully completed the first consultation in the series of consultations leading up to the pre-summit event for the India AI Impact Summit 2026. The planned pre-summit event, scheduled for November28th, 2025, is titled "Dialogue on Shaping AI Impact in the Financial Sector."

The consultation brought together over sixty senior representatives from banks, NBFCs, FinTechs, technology firms, academia, legal and consulting firms, reflecting the multi-stakeholder nature of the dialogue.The session commenced with keynote addresses by Shri. Aditya Kumar Sinha, Executive Director, C-DAC Mumbai, and Shri. Suvendu Pati, Chief General Manager, FinTech Department, Reserve Bank of India.

Shri. Aditya Sinha spoke about the emerging trends in Artificial Intelligence and their growing impact on financial technologies. He also highlighted the extensive work being carried out by C-DAC in Supercomputing, Quantum Computing, Artificial Intelligence, and other national technology priority areas.

As part of his address, Shri. Suvendu Pati outlined the key principles and recommendations of the Committee constituted by the RBI to develop a Framework for Responsible and Ethical Enablement of Artificial Intelligence (FREE-AI). He reaffirmed the regulators' commitment to fostering innovation in the financial sector while ensuring customer protection. He apprised the forum that the seven Sutras of the FREE-AI Committee report have been adapted under the IndiaAI Mission's Governance Guidelines, extending their application across sectors to align with national priorities. He also briefed participants on the expectations of the consultation, encouraging them to deliberate actively and share actionable insights to advance responsible AI adoption in the financial sector.

Ms. Veena Tyagi, Scientist G, C-DAC Mumbai, briefed the participants on the format of the consultation process, ensuring that the discussions remained focused and outcome-oriented. Her address was followed by Shri. Praveen John Philip, AGM, RBI, who explained the breakout themesencompassing AI infrastructure, governance, inclusion and accessibility, consumer protection and cyber resilience, assurance mechanisms, sectoral capacity building, and collaboration.

The breakout roundtables engaged in detailed discussions on the assigned themes and presented their insights through structured presentations. The session proved constructive, with participants delivering well-articulated presentations that reflected the depth and essence of their deliberations.The session concluded with a Vote of Thanks by Shri. Amol Suroshe, Scientist E, C-DAC Mumbai, who expressed gratitude to the supporting organisations, including MeitY, RBI,IndiaAI Mission, the organisers, and all participants for their valuable contributions.Overall, the event marked a successful and purposeful beginning to the series of consultations aimed at shaping India's AI-driven financial future.